PowerShares Water Resource Portfolio (PHO) 11/11/09 PriceWatch Alert Bullish Price Movement
Posted: Wednesday, November 11, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
PowerShares Water Resource Portfolio (PCX: PHO) closed yesterday at $16.41. So far PHO has hit a 52-week low of $10.10 and 52-week high of $17.52. PHO has been showing support around 16.10 and resistance in the 16.76 range. Technical indicators are Bullish. PHO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 16 covered call (PHO FP) for a net debit in the $14.81 area. That is also the break even stock price for this trade. This covered call has a 220 day duration, provides 9.75% downside protection and an 8.04% assigned return rate for a 13.33% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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