Market Vectors - Steel ETF (SLX) PriceWatch Alert At $36.30 Break Even
Posted: Monday, July 06, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) closed yesterday at $41.20. So far SLX has hit a 52-week low of $20.19 and 52-week high of $96.91. SLX has been showing support around 40.36 and resistance in the 42.00 range. Technical indicators are Bearish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '09 39 covered call (EZO IM) for a net debit in the $36.30 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 11.89% downside protection and a 7.44% assigned return rate for a 36.20% 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 Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).