iShares S&P 500 Index (IVV) 10/21/09 PriceWatch Alert With Support Around $108.37

Posted: Wednesday, October 21, 2009 8:27 AM EDT

iShares S&P 500 Index (PCX: IVV) closed yesterday at $109.63. So far IVV has hit a 52-week low of $67.22 and 52-week high of $110.48. IVV has been showing support around 108.37 and resistance in the 110.97 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 '09 109 covered call (ILD LE) for a net debit in the $106.33 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 3.01% downside protection and a 2.51% assigned return rate for a 15.53% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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