CurrencyShares British Pound Sterling Trust (FXB) 11/6/09 PriceWatch Alert Targets 13.35% Return

Posted: Friday, November 06, 2009 8:39 AM EDT

CurrencyShares British Pound Sterling Trust (PCX: FXB) closed yesterday at $165.46. So far FXB has hit a 52-week low of $136.07 and 52-week high of $170.12. FXB has been showing support around 164.63 and resistance in the 166.21 range. Technical indicators are Bullish. FXB appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 170 covered call (FFK CN) for a net debit in the $162.06 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 2.05% downside protection and a 4.90% assigned return rate for a 13.35% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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