iShares S&P GSSI Natural Resources Index (IGE) 11/3/09 PriceWatch Alert With Support Around $31.29
Posted: Tuesday, November 03, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $32.51. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 31.29 and resistance in the 33.73 range. Technical indicators are Bearish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 33 covered call (IGE AG) for a net debit in the $31.21 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 4.00% downside protection and a 5.74% assigned return rate for a 28.29% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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