SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 7/30/10 PriceWatch Alert Support At Around $39.62
Posted: Friday, July 30, 2010 8:14 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PACF: XOP) closed yesterday at $40.74. So far XOP has hit a 52-week low of $33.58 and 52-week high of $45.95. XOP has been showing support around 39.62 and resistance in the 41.82 range. Technical indicators are Bearish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '10 40 covered call for a net debit in the $38.54 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 5.40% downside protection and a 3.79% assigned return rate for a 27.65% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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