SPDR S&P Metals & Mining ETF (XME) 11/9/09 PriceWatch Alert Support At Around $43.70
Posted: Monday, November 09, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) ended the last trading session at $45.49. So far XME has hit a 52-week low of $17.15 and 52-week high of $50.14. XME has been showing support around 43.70 and resistance in the 47.50 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 45 covered call (XME CS) for a net debit in the $40.29 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 11.43% downside protection and an 11.69% assigned return rate for a 32.57% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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