SPDR S&P 500 ETF (SPY) 11/13/09 PriceWatch Alert Targets 3.53% Downside Protection
Posted: Friday, November 13, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $109.03. 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 107.63 and resistance in the 111.27 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 '10 109 covered call (SWG AE) for a net debit in the $105.18 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 3.53% downside protection and a 3.63% assigned return rate for a 20.71% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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