iShares Dow Jones U.S. Basic Materials Sector Index Fund (IYM) 11/3/09 PriceWatch Alert Targets 6.38% Downside Protection
Posted: Tuesday, November 03, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
iShares Dow Jones U.S. Basic Materials Sector Index Fund (PCX: IYM) closed yesterday at $53.30. So far IYM has hit a 52-week low of $28.17 and 52-week high of $58.95. IYM has been showing support around 50.94 and resistance in the 55.68 range. Technical indicators are Bearish. IYM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 53 covered call (IYM CA) for a net debit in the $49.90 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 6.38% downside protection and a 6.21% assigned return rate for a 16.55% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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