SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/10/09 PriceWatch Alert Could Hit 24.66% Return
Posted: Tuesday, November 10, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $40.57. So far XOP has hit a 52-week low of $22.89 and 52-week high of $44.17. XOP has been showing support around 39.78 and resistance in the 41.02 range. Technical indicators are Bullish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 40 covered call (XOA CN) for a net debit in the $36.77 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 9.37% downside protection and an 8.78% assigned return rate for a 24.66% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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