SPDR S&P Metals & Mining ETF (XME) 7/30/10 PriceWatch Alert Could Hit 43.24% Return
Posted: Friday, July 30, 2010 8:14 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PACF: XME) closed yesterday at $49.46. So far XME has hit a 52-week low of $38.15 and 52-week high of $60.48. XME has been showing support around 47.69 and resistance in the 51.17 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 Sep '10 49 covered call for a net debit in the $46.26 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 6.47% downside protection and a 5.92% assigned return rate for a 43.24% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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