SPDR S&P 500 ETF (SPY) 11/9/09 PriceWatch Alert Targets 3.17% Downside Protection
Posted: Monday, November 09, 2009 8:03 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) ended the last trading session at $107.13. So far SPY has hit a 52-week low of $67.10 and 52-week high of $110.31. SPY has been showing support around 105.51 and resistance in the 108.21 range. Technical indicators are Bullish. SPY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 107 covered call (RDQ LC) for a net debit in the $103.73 area. That is also the break even stock price for this trade. This covered call has a 52 day duration, provides 3.17% downside protection and a 3.15% assigned return rate for a 22.13% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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