Pharmaceutical HOLDRS (PPH) 11/9/09 PriceWatch Alert Targets 6.22% Downside Protection
Posted: Monday, November 09, 2009 8:29 AM EDT
By: Market Intelligence Center Staff
Pharmaceutical HOLDRS (AMEX: PPH) ended the last trading session at $62.68. So far PPH has hit a 52-week low of $49.28 and 52-week high of $68.45. PPH has been showing support around 61.85 and resistance in the 63.21 range. Technical indicators are Bearish. PPH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 60 covered call (PPH BL) for a net debit in the $58.78 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 6.22% downside protection and a 2.08% assigned return rate for a 7.36% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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