SPDR S&P Metals & Mining ETF (XME) 11/3/09 PriceWatch Alert Targets 12.00% Downside Protection

Posted: Tuesday, November 03, 2009 8:18 AM EDT

SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $42.51. So far XME has hit a 52-week low of $17.15 and 52-week high of $50.14. XME has been showing support around 39.84 and resistance in the 45.28 range. Technical indicators are Bearish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 42 covered call (XME CP) for a net debit in the $37.41 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 12.00% downside protection and a 12.27% assigned return rate for a 32.69% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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