iShares Russell Midcap Growth Index (IWP) 10/30/09 PriceWatch Alert At $38.59 Break Even
Posted: Friday, October 30, 2009 8:36 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $41.99. 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 41.14 and resistance in the 42.56 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 $38.59 area. That is also the break even stock price for this trade. This covered call has an 113 day duration, provides 8.10% downside protection and a 3.65% assigned return rate for an 11.80% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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