SPDR S&P Metals & Mining ETF (XME) 11/10/09 PriceWatch Alert With Support Around $45.97
Posted: Tuesday, November 10, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $47.24. 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 45.97 and resistance in the 48.13 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 47 covered call (XME CU) for a net debit in the $42.14 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 10.80% downside protection and an 11.53% assigned return rate for a 32.38% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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