SPDR S&P Biotech ETF (XBI) 11/12/09 PriceWatch Alert Targets 5.67% Downside Protection
Posted: Thursday, November 12, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $51.18. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 50.37 and resistance in the 51.71 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 51 covered call (XBI CY) for a net debit in the $48.28 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 5.67% downside protection and a 5.63% assigned return rate for a 16.07% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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