CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Targets 2.70% Downside Protection
Posted: Tuesday, June 30, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $103.61. So far FXY has hit a 52-week low of $90.15 and 52-week high of $114.61. FXY has been showing support around 102.93 and resistance in the 104.65 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '09 103 covered call (FXY IY) for a net debit in the $100.81 area. That is also the break even stock price for this trade. This covered call has an 81 day duration, provides 2.70% downside protection and a 2.17% assigned return rate for a 9.79% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]
CLICK HERE: FREE (FXY) Stock ReportSee what our analysts have uncovered about (FXY).