PowerShares Water Resource Portfolio (PHO) 11/6/09 PriceWatch Alert With 7.35% Downside Protection

Posted: Friday, November 06, 2009 8:41 AM EDT

PowerShares Water Resource Portfolio (PCX: PHO) closed yesterday at $16.32. So far PHO has hit a 52-week low of $10.10 and 52-week high of $17.52. PHO has been showing support around 15.72 and resistance in the 16.64 range. Technical indicators are Bearish. PHO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 16 covered call (PHO CP) for a net debit in the $15.12 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 7.35% downside protection and a 5.82% assigned return rate for a 15.85% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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