KBW Bank ETF (KBE) 11/9/09 PriceWatch Alert With Support Around $20.69
Posted: Monday, November 09, 2009 8:36 AM EDT
By: Market Intelligence Center Staff
KBW Bank ETF (PCX: KBE) ended the last trading session at $21.26. So far KBE has hit a 52-week low of $8.90 and 52-week high of $27.26. KBE has been showing support around 20.69 and resistance in the 21.63 range. Technical indicators are Bearish. KBE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 21 covered call (KEJ FU) for a net debit in the $18.61 area. That is also the break even stock price for this trade. This covered call has a 222 day duration, provides 12.46% downside protection and a 12.84% assigned return rate for a 21.12% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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