iShares iBoxx $ High Yield Corporate Bond Fund (HYG) 11/3/09 PriceWatch Alert Down To $84.09 Break Even

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

iShares iBoxx $ High Yield Corporate Bond Fund (PCX: HYG) closed yesterday at $85.14. So far HYG has hit a 52-week low of $61.50 and 52-week high of $87.20. HYG has been showing support around 84.20 and resistance in the 86.04 range. Technical indicators are Bullish. HYG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 86 covered call (HYG CH) for a net debit in the $84.09 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 1.23% downside protection and a 2.27% assigned return rate for a 6.05% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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