Pharmaceutical HOLDRS (PPH) 11/11/09 PriceWatch Alert Bearish Price Movement
Posted: Wednesday, November 11, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Pharmaceutical HOLDRS (AMEX: PPH) closed yesterday at $62.81. So far PPH has hit a 52-week low of $49.28 and 52-week high of $68.45. PPH has been showing support around 61.80 and resistance in the 63.40 range. Technical indicators are Bearish. PPH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a May '10 60 covered call (PPH EL) for a net debit in the $58.31 area. That is also the break even stock price for this trade. This covered call has a 192 day duration, provides 7.16% downside protection and a 2.90% assigned return rate for a 5.51% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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