iShares S&P GSSI Natural Resources Index (IGE) 11/6/09 PriceWatch Alert At $32.42 Break Even

Posted: Friday, November 06, 2009 8:47 AM EDT

iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $33.77. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 32.98 and resistance in the 34.20 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 34 covered call (IGE AH) for a net debit in the $32.42 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 4.00% downside protection and a 4.87% assigned return rate for a 25.05% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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