iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) 11/6/09 PriceWatch Alert Support Down To $50.28

Posted: Friday, November 06, 2009 8:24 AM EDT

iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (PCX: IEO) closed yesterday at $51.91. So far IEO has hit a 52-week low of $29.16 and 52-week high of $56.99. IEO has been showing support around 50.28 and resistance in the 52.74 range. Technical indicators are Bullish. IEO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 51 covered call (IVS CY) for a net debit in the $47.41 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 8.67% downside protection and a 7.57% assigned return rate for a 20.63% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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