SPDR S&P 500 ETF (SPY) 11/11/09 PriceWatch Alert Down To $106.09 Break Even
Posted: Wednesday, November 11, 2009 8:24 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $109.59. So far SPY has hit a 52-week low of $67.10 and 52-week high of $110.31. SPY has been showing support around 108.54 and resistance in the 110.46 range. Technical indicators are Bullish. SPY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 109 covered call (RDQ LE) for a net debit in the $106.09 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 3.19% downside protection and a 2.74% assigned return rate for a 20.02% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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