SPDR S&P Metals & Mining ETF (XME) PriceWatch Alert Down To $31.01 Break Even

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

SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $36.01. So far XME has hit a 52-week low of $17.15 and 52-week high of $87.22. XME has been showing support around 35.30 and resistance in the 36.86 range. Technical indicators are Bearish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 36 covered call (EXF LJ) for a net debit in the $31.01 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 13.89% downside protection and a 16.09% assigned return rate for a 35.38% 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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