SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 3/10/10 PriceWatch Alert Targets 18.73% Return
Posted: Wednesday, March 10, 2010 8:21 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PACF: XOP) closed yesterday at $42.83. So far XOP has hit a 52-week low of $24.42 and 52-week high of $44.62. XOP has been showing support around 42.09 and resistance in the 43.47 range. Technical indicators are Bullish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 42 covered call for a net debit in the $39.93 area. That is also the break even stock price for this trade. This covered call has a 101 day duration, provides 6.77% downside protection and a 5.18% assigned return rate for an 18.73% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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