iShares S&P 500 Index (IVV) 11/4/09 PriceWatch Alert Up To 6.29% Downside Protection

Posted: Wednesday, November 04, 2009 8:46 AM EDT

iShares S&P 500 Index (PCX: IVV) closed yesterday at $104.97. So far IVV has hit a 52-week low of $67.22 and 52-week high of $110.75. IVV has been showing support around 103.43 and resistance in the 105.89 range. Technical indicators are Bearish. IVV appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 103 covered call (ILD CY) for a net debit in the $98.37 area. That is also the break even stock price for this trade. This covered call has a 136 day duration, provides 6.29% downside protection and a 4.71% assigned return rate for a 12.63% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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