iShares COMEX Gold Trust (IAU) 11/6/09 PriceWatch Alert Bullish Price Movement

Posted: Friday, November 06, 2009 8:26 AM EDT

iShares COMEX Gold Trust (PCX: IAU) closed yesterday at $107.01. So far IAU has hit a 52-week low of $68.90 and 52-week high of $107.73. IAU has been showing support around 106.47 and resistance in the 107.47 range. Technical indicators are Bullish. IAU appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 105 covered call (IAU AA) for a net debit in the $102.21 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 4.49% downside protection and a 2.73% assigned return rate for a 14.03% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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