iShares Russell 2000 Growth Index Fund (IWO) 11/3/09 PriceWatch Alert Support Down To $59.50

Posted: Tuesday, November 03, 2009 8:26 AM EDT

iShares Russell 2000 Growth Index Fund (PCX: IWO) closed yesterday at $61.23. So far IWO has hit a 52-week low of $37.86 and 52-week high of $67.89. IWO has been showing support around 59.50 and resistance in the 62.90 range. Technical indicators are Bearish. IWO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 61 covered call (IWO BI) for a net debit in the $57.23 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 6.53% downside protection and a 6.59% assigned return rate for a 22.06% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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