iShares S&P 500 Index (IVV) 11/2/09 PriceWatch Alert Support At Around $101.70

Posted: Monday, November 02, 2009 8:12 AM EDT

iShares S&P 500 Index (PCX: IVV) ended the last trading session at $103.97. 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 101.70 and resistance in the 108.10 range. Technical indicators are Bearish. IVV appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 103 covered call (ILD CY) for a net debit in the $97.47 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 6.25% downside protection and a 5.67% assigned return rate for a 15.01% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]

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