iShares S&P 500 Index (IVV) 10/23/09 PriceWatch Alert With Support Around $107.01

Posted: Friday, October 23, 2009 8:10 AM EDT

iShares S&P 500 Index (PCX: IVV) closed yesterday at $109.64. 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 107.01 and resistance in the 111.33 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 Mar '10 109 covered call (ILD CE) for a net debit in the $104.34 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 4.83% downside protection and a 4.47% assigned return rate for an 11.01% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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