iShares S&P GSSI Natural Resources Index (IGE) 3/19/10 PriceWatch Alert Targets 19.02% Return
Posted: Friday, March 19, 2010 8:12 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PACF: IGE) closed yesterday at $34.69. So far IGE has hit a 52-week low of $23.10 and 52-week high of $36.86. IGE has been showing support around 34.09 and resistance in the 35.69 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jul '10 35 covered call for a net debit in the $32.94 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 5.04% downside protection and a 6.25% assigned return rate for a 19.02% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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