iShares S&P 500 Index (IVV) 10/30/09 PriceWatch Alert Targets 2.99% Downside Protection

Posted: Friday, October 30, 2009 8:02 AM EDT

iShares S&P 500 Index (PCX: IVV) closed yesterday at $106.96. So far IVV has hit a 52-week low of $67.22 and 52-week high of $110.75. IVV has been showing support around 103.86 and resistance in the 108.74 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 Dec '09 106 covered call (ILD LB) for a net debit in the $103.76 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 2.99% downside protection and a 2.16% assigned return rate for a 15.76% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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