Rydex S&P Equal Weight ETF (RSP) PriceWatch Alert At $28.42 Break Even

Posted: Monday, July 06, 2009 8:07 AM EDT

Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $30.02. So far RSP has hit a 52-week low of $20.19 and 52-week high of $43.71. RSP has been showing support around 29.49 and resistance in the 31.01 range. Technical indicators are Neutral. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '09 30 covered call (RSP ID) for a net debit in the $28.42 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 5.33% downside protection and a 5.56% assigned return rate for a 27.06% 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]

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