iShares S&P GSSI Natural Resources Index (IGE) 11/9/09 PriceWatch Alert Up To 4.15% Downside Protection
Posted: Monday, November 09, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) ended the last trading session at $33.74. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 32.99 and resistance in the 34.51 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 34 covered call (IGE AH) for a net debit in the $32.34 area. That is also the break even stock price for this trade. This covered call has a 68 day duration, provides 4.15% downside protection and a 5.13% assigned return rate for a 27.55% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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