iShares Russell Midcap Growth Index (IWP) 10/27/09 PriceWatch Alert With $39.01 Break Even
Posted: Tuesday, October 27, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $43.01. So far IWP has hit a 52-week low of $24.26 and 52-week high of $44.43. IWP has been showing support around 42.18 and resistance in the 44.44 range. Technical indicators are Bullish. IWP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 40 covered call (IWP BH) for a net debit in the $39.01 area. That is also the break even stock price for this trade. This covered call has an 116 day duration, provides 9.30% downside protection and a 2.54% assigned return rate for a 7.99% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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