SPDR S&P Biotech ETF (XBI) 11/3/09 PriceWatch Alert Bearish Price Movement

Posted: Tuesday, November 03, 2009 8:31 AM EDT

SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $47.55. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 46.22 and resistance in the 49.30 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 47 covered call (XBI CU) for a net debit in the $44.25 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 6.94% downside protection and a 6.21% assigned return rate for a 16.56% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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