iShares Russell Midcap Index Fund (IWR) 11/3/09 PriceWatch Alert Could Hit 16.59% Return

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

iShares Russell Midcap Index Fund (PCX: IWR) closed yesterday at $75.16. So far IWR has hit a 52-week low of $44.65 and 52-week high of $81.53. IWR has been showing support around 73.06 and resistance in the 77.20 range. Technical indicators are Bearish. IWR appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 75 covered call (IWR BO) for a net debit in the $71.46 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 4.92% downside protection and a 4.95% assigned return rate for a 16.59% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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