iShares S&P 500 Index (IVV) 10/22/09 PriceWatch Alert With Support Around $107.09

Posted: Thursday, October 22, 2009 8:02 AM EDT

iShares S&P 500 Index (PCX: IVV) closed yesterday at $108.56. So far IVV has hit a 52-week low of $67.22 and 52-week high of $110.66. IVV has been showing support around 107.09 and resistance in the 111.39 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 '09 108 covered call (ILD LD) for a net debit in the $104.96 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 3.32% downside protection and a 2.90% assigned return rate for an 18.23% annualized return rate (comparison purposes only). [THA-Seven Summits Research]

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