Market Vectors - Steel ETF (SLX) PriceWatch Alert for November 9, 2009
Posted: Monday, November 09, 2009 8:22 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) ended the last trading session at $54.60. So far SLX has hit a 52-week low of $20.19 and 52-week high of $59.62. SLX has been showing support around 52.95 and resistance in the 56.39 range. Technical indicators are Bullish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 54 covered call (EZN CB) for a net debit in the $49.80 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 8.79% downside protection and an 8.43% assigned return rate for a 23.50% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
CLICK HERE: FREE Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).