First Trust Dow Jones Select MicroCap Index Fund (FDM) 11/3/09 PriceWatch Alert Down To $14.63 Break Even
Posted: Tuesday, November 03, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
First Trust Dow Jones Select MicroCap Index Fund (PCX: FDM) closed yesterday at $15.88. So far FDM has hit a 52-week low of $9.36 and 52-week high of $17.82. FDM has been showing support around 15.47 and resistance in the 16.33 range. Technical indicators are Bearish. FDM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 16 covered call (FDM FP) for a net debit in the $14.63 area. That is also the break even stock price for this trade. This covered call has a 228 day duration, provides 7.87% downside protection and a 9.36% assigned return rate for a 14.99% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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