CurrencyShares Canadian Dollar Trust (FXC) 11/6/09 PriceWatch Alert Up To 3.85% Downside Protection

Posted: Friday, November 06, 2009 8:28 AM EDT

CurrencyShares Canadian Dollar Trust (PCX: FXC) closed yesterday at $93.56. So far FXC has hit a 52-week low of $76.59 and 52-week high of $97.30. FXC has been showing support around 93.20 and resistance in the 94.12 range. Technical indicators are Bullish. FXC appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 93 covered call (FXC CO) for a net debit in the $89.96 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 3.85% downside protection and a 3.38% assigned return rate for a 9.20% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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