SPDR S&P Biotech ETF (XBI) 11/6/09 PriceWatch Alert With Support Around $48.03

Posted: Friday, November 06, 2009 8:40 AM EDT

SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $49.48. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 48.03 and resistance in the 50.41 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 49 covered call (XBI CW) for a net debit in the $46.38 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 6.27% downside protection and a 5.65% assigned return rate for a 15.39% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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