SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/12/09 PriceWatch Alert Technicals Showing Bullish
Posted: Thursday, November 12, 2009 8:16 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $40.28. So far XOP has hit a 52-week low of $22.89 and 52-week high of $44.17. XOP has been showing support around 39.31 and resistance in the 41.57 range. Technical indicators are Bullish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 40 covered call (XOA CN) for a net debit in the $36.78 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 8.69% downside protection and an 8.75% assigned return rate for a 24.96% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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