CurrencyShares Japanese Yen Trust (FXY) 10/28/09 PriceWatch Alert With 3.33% Downside Protection

Posted: Wednesday, October 28, 2009 8:18 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $108.08. 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 107.51 and resistance in the 108.57 range. Technical indicators are Bearish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 108 covered call (GDW CD) for a net debit in the $104.48 area. That is also the break even stock price for this trade. This covered call has a 143 day duration, provides 3.33% downside protection and a 3.37% assigned return rate for an 8.60% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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