iShares Russell Midcap Growth Index (IWP) 11/4/09 PriceWatch Alert At $38.41 Break Even
Posted: Wednesday, November 04, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $41.51. So far IWP has hit a 52-week low of $24.26 and 52-week high of $44.43. IWP has been showing support around 40.49 and resistance in the 42.07 range. Technical indicators are Bearish. IWP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 40 covered call (IWP BH) for a net debit in the $38.41 area. That is also the break even stock price for this trade. This covered call has a 108 day duration, provides 7.47% downside protection and a 4.14% assigned return rate for a 13.99% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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