SPDR S&P Metals & Mining ETF (XME) 3/12/10 PriceWatch Alert With $51.71 Break Even
Posted: Friday, March 12, 2010 8:47 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PACF: XME) closed yesterday at $56.21. So far XME has hit a 52-week low of $21.99 and 52-week high of $60.48. XME has been showing support around 54.71 and resistance in the 57.13 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 56 covered call for a net debit in the $51.71 area. That is also the break even stock price for this trade. This covered call has a 99 day duration, provides 8.01% downside protection and an 8.30% assigned return rate for a 30.59% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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