iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) 11/3/09 PriceWatch Alert Targets 9.06% Downside Protection
Posted: Tuesday, November 03, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (PCX: IEO) closed yesterday at $49.68. So far IEO has hit a 52-week low of $29.16 and 52-week high of $56.99. IEO has been showing support around 47.72 and resistance in the 51.70 range. Technical indicators are Bearish. IEO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 49 covered call (IVS CW) for a net debit in the $45.18 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 9.06% downside protection and an 8.46% assigned return rate for a 22.53% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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