CurrencyShares Canadian Dollar Trust (FXC) PriceWatch Alert Could Hit 8.39% Return
Posted: Friday, August 14, 2009 8:22 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Canadian Dollar Trust (PCX: FXC) closed yesterday at $91.62. So far FXC has hit a 52-week low of $76.59 and 52-week high of $97.29. FXC has been showing support around 91.15 and resistance in the 92.33 range. Technical indicators are Bullish. FXC appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 91 covered call (FXC LM) for a net debit in the $88.42 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 3.49% downside protection and a 2.92% assigned return rate for an 8.39% 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 (FXC) Stock ReportSee what our analysts have uncovered about (FXC).