CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Targets 8.51% Return
Posted: Friday, August 07, 2009 8:17 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $104.25. So far FXY has hit a 52-week low of $90.15 and 52-week high of $114.61. FXY has been showing support around 103.70 and resistance in the 104.52 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 104 covered call (FXY LZ) for a net debit in the $100.85 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 3.26% downside protection and a 3.12% assigned return rate for an 8.51% 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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