iShares S&P 500 Index (IVV) PriceWatch Alert With Support Around $89.12

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

iShares S&P 500 Index (PCX: IVV) closed yesterday at $90.07. So far IVV has hit a 52-week low of $67.22 and 52-week high of $131.72. IVV has been showing support around 89.12 and resistance in the 91.92 range. Technical indicators are Neutral. IVV appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '09 90 covered call (ISZ IL) for a net debit in the $85.87 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 4.66% downside protection and a 4.81% assigned return rate for a 23.41% 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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