KBW Insurance ETF (KIE) 11/3/09 PriceWatch Alert Targets 3.60% Downside Protection
Posted: Tuesday, November 03, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
KBW Insurance ETF (PCX: KIE) closed yesterday at $33.30. So far KIE has hit a 52-week low of $14.30 and 52-week high of $37.84. KIE has been showing support around 31.99 and resistance in the 34.77 range. Technical indicators are Bearish. KIE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 34 covered call (KIE FH) for a net debit in the $32.10 area. That is also the break even stock price for this trade. This covered call has a 228 day duration, provides 3.60% downside protection and a 5.92% assigned return rate for a 9.48% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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