iShares S&P MidCap 400 Growth Index Fund (IJK) PriceWatch Alert Down To $57.22 Break Even

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

iShares S&P MidCap 400 Growth Index Fund (PCX: IJK) closed yesterday at $61.12. So far IJK has hit a 52-week low of $42.28 and 52-week high of $88.00. IJK has been showing support around 60.45 and resistance in the 62.19 range. Technical indicators are Neutral. IJK appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Nov '09 62 covered call (IJF KJ) for a net debit in the $57.22 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 6.38% downside protection and an 8.35% assigned return rate for a 22.09% 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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