iShares Russell Midcap Growth Index (IWP) 11/5/09 PriceWatch Alert At $38.46 Break Even
Posted: Thursday, November 05, 2009 8:03 AM EDT
By: Market Intelligence Center Staff
iShares Russell Midcap Growth Index (PCX: IWP) closed yesterday at $41.46. 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 40.95 and resistance in the 42.37 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 $38.46 area. That is also the break even stock price for this trade. This covered call has a 107 day duration, provides 7.24% downside protection and a 4.00% assigned return rate for a 13.66% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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