Rydex S&P Equal Weight ETF (RSP) 11/11/09 PriceWatch Alert Support Down To $37.70
Posted: Wednesday, November 11, 2009 8:10 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $38.11. 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 37.70 and resistance in the 38.50 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 $36.01 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 5.51% downside protection and a 5.53% assigned return rate for a 15.64% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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