CurrencyShares Canadian Dollar Trust (FXC) PriceWatch Alert With Support Around $89.48
Posted: Monday, August 17, 2009 8:28 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Canadian Dollar Trust (PCX: FXC) closed yesterday at $90.78. 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 89.48 and resistance in the 92.94 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 90 covered call (FXC LL) for a net debit in the $87.58 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 3.53% downside protection and a 2.76% assigned return rate for an 8.13% 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).