CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Up To 3.38% Downside Protection
Posted: Thursday, August 13, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $103.49. 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 102.35 and resistance in the 104.37 range. Technical indicators are Bearish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 103 covered call (FXY LY) for a net debit in the $99.99 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 3.38% downside protection and a 3.01% assigned return rate for an 8.58% 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]
CLICK HERE: FREE (FXY) Stock ReportSee what our analysts have uncovered about (FXY).