SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/13/09 PriceWatch Alert Neutral Price Movement
Posted: Friday, November 13, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $39.25. 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 38.36 and resistance in the 40.72 range. Technical indicators are Neutral. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 39 covered call (XOA CM) for a net debit in the $35.85 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 8.66% downside protection and an 8.79% assigned return rate for a 25.25% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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