SPDR S&P 500 ETF (SPY) 11/12/09 PriceWatch Alert Down To $106.45 Break Even
Posted: Thursday, November 12, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $110.15. So far SPY has hit a 52-week low of $67.10 and 52-week high of $110.82. SPY has been showing support around 109.00 and resistance in the 111.40 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 Jan '10 110 covered call (SPY AF) for a net debit in the $106.45 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 3.36% downside protection and a 3.33% assigned return rate for an 18.73% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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