KBW Bank ETF (KBE) 11/11/09 PriceWatch Alert At $19.50 Break Even
Posted: Wednesday, November 11, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
KBW Bank ETF (PCX: KBE) closed yesterday at $21.70. So far KBE has hit a 52-week low of $8.90 and 52-week high of $26.03. KBE has been showing support around 21.23 and resistance in the 22.25 range. Technical indicators are Bearish. KBE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 21 covered call (KEJ CU) for a net debit in the $19.50 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 10.14% downside protection and a 7.69% assigned return rate for a 21.77% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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