Rydex S&P Equal Weight ETF (RSP) 11/13/09 PriceWatch Alert With Support Around $37.34
Posted: Friday, November 13, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $37.87. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.88. RSP has been showing support around 37.34 and resistance in the 38.78 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 37 covered call (RSP CK) for a net debit in the $35.32 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 6.73% downside protection and a 4.76% assigned return rate for a 13.67% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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