Rydex S&P Equal Weight ETF (RSP) 11/9/09 PriceWatch Alert With Support Around $36.68
Posted: Monday, November 09, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) ended the last trading session at $37.27. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.88. RSP has been showing support around 36.68 and resistance in the 37.72 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 37 covered call (RSP CK) for a net debit in the $35.12 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 5.77% downside protection and a 5.35% assigned return rate for a 14.92% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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