SPDR S&P Metals & Mining ETF (XME) 2/9/10 PriceWatch Alert With Support Around $44.31
Posted: Tuesday, February 09, 2010 8:40 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PACF: XME) closed yesterday at $45.62. So far XME has hit a 52-week low of $20.55 and 52-week high of $60.48. XME has been showing support around 44.31 and resistance in the 48.19 range. Technical indicators are Bearish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 45 covered call for a net debit in the $40.52 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 11.18% downside protection and an 11.06% assigned return rate for a 31.04% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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