Select Sector SPDR-Utilities (XLU) 11/9/09 PriceWatch Alert Down To $26.89 Break Even
Posted: Monday, November 09, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Select Sector SPDR-Utilities (PCX: XLU) ended the last trading session at $28.92. So far XLU has hit a 52-week low of $22.48 and 52-week high of $30.47. XLU has been showing support around 28.63 and resistance in the 29.23 range. Technical indicators are Neutral. XLU appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 28 covered call (XLU FB) for a net debit in the $26.89 area. That is also the break even stock price for this trade. This covered call has a 222 day duration, provides 7.02% downside protection and a 4.13% assigned return rate for a 6.79% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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