KBW Bank ETF (KBE) 11/12/09 PriceWatch Alert With Support Around $21.59
Posted: Thursday, November 12, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
KBW Bank ETF (PCX: KBE) closed yesterday at $21.96. So far KBE has hit a 52-week low of $8.90 and 52-week high of $25.59. KBE has been showing support around 21.59 and resistance in the 22.47 range. Technical indicators are Bullish. 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 $19.51 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 11.16% downside protection and a 7.64% assigned return rate for a 21.78% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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