iShares Russell Midcap Growth Index (IWP) PriceWatch Alert for October 28, 2009
Posted: Wednesday, October 28, 2009 8:28 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $42.47. 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 41.88 and resistance in the 43.50 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 $38.87 area. That is also the break even stock price for this trade. This covered call has an 115 day duration, provides 8.48% downside protection and a 2.91% assigned return rate for a 9.23% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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