Rydex S&P Equal Weight ETF (RSP) 11/10/09 PriceWatch Alert Support Down To $37.34
Posted: Tuesday, November 10, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $38.26. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.88. RSP has been showing support around 37.34 and resistance in the 38.72 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 38 covered call (RSP CL) for a net debit in the $36.31 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 5.10% downside protection and a 4.65% assigned return rate for a 13.07% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
CLICK HERE: FREE (RSP) Stock ReportSee what our analysts have uncovered about (RSP).