iShares Russell Midcap Growth Index (IWP) 11/2/09 PriceWatch Alert Support At Around $39.99
Posted: Monday, November 02, 2009 8:03 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) ended the last trading session at $40.83. 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 39.99 and resistance in the 42.49 range. Technical indicators are Bearish. 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 $38.13 area. That is also the break even stock price for this trade. This covered call has an 110 day duration, provides 6.61% downside protection and a 4.90% assigned return rate for a 16.27% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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