iShares S&P 500 Index (IVV) PriceWatch Alert With Support Around $98.86
Posted: Friday, August 07, 2009 8:17 AM EDT
iShares S&P 500 Index (PCX: IVV) closed yesterday at $100.23. 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 98.86 and resistance in the 102.00 range. Technical indicators are Bullish. IVV appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 100 covered call (ILD LV) for a net debit in the $94.73 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 5.49% downside protection and a 5.56% assigned return rate for a 15.15% 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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