CurrencyShares Japanese Yen Trust (FXY) 11/5/09 PriceWatch Alert With $105.75 Break Even
Posted: Thursday, November 05, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.65. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 108.46 and resistance in the 110.24 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 109 covered call (GDW CE) for a net debit in the $105.75 area. That is also the break even stock price for this trade. This covered call has a 135 day duration, provides 3.56% downside protection and a 3.07% assigned return rate for an 8.31% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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