CurrencyShares Japanese Yen Trust (FXY) 10/21/09 PriceWatch Alert Support Down To $108.62

Posted: Wednesday, October 21, 2009 8:04 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.50. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 108.62 and resistance in the 110.42 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 Mar '10 109 covered call (GDW CE) for a net debit in the $105.50 area. That is also the break even stock price for this trade. This covered call has a 150 day duration, provides 3.65% downside protection and a 3.32% assigned return rate for an 8.07% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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