CurrencyShares Japanese Yen Trust (FXY) 10/30/09 PriceWatch Alert Targets 8.16% Return

Posted: Friday, October 30, 2009 8:31 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $108.60. 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 108.15 and resistance in the 109.13 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 $104.70 area. That is also the break even stock price for this trade. This covered call has a 141 day duration, provides 3.59% downside protection and a 3.15% assigned return rate for an 8.16% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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