iShares Dow Jones U.S. Oil Equipment & Services Index Fund (IEZ) 11/3/09 PriceWatch Alert Could Hit 31.89% Return

Posted: Tuesday, November 03, 2009 8:35 AM EDT

iShares Dow Jones U.S. Oil Equipment & Services Index Fund (PCX: IEZ) closed yesterday at $41.31. So far IEZ has hit a 52-week low of $21.57 and 52-week high of $47.03. IEZ has been showing support around 39.60 and resistance in the 43.06 range. Technical indicators are Neutral. IEZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 41 covered call (IEZ AO) for a net debit in the $38.51 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 6.78% downside protection and a 6.47% assigned return rate for a 31.89% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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