SPDR S&P Metals & Mining ETF (XME) 11/13/09 PriceWatch Alert Technicals Showing Bullish
Posted: Friday, November 13, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $46.49. So far XME has hit a 52-week low of $17.15 and 52-week high of $50.14. XME has been showing support around 45.18 and resistance in the 48.50 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 46 covered call (XME CT) for a net debit in the $41.39 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 10.97% downside protection and an 11.14% assigned return rate for a 32.01% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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