Market Vectors - Steel ETF (SLX) PriceWatch Alert for November 13, 2009
Posted: Friday, November 13, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) closed yesterday at $55.67. So far SLX has hit a 52-week low of $20.19 and 52-week high of $59.62. SLX has been showing support around 54.32 and resistance in the 57.86 range. Technical indicators are Bullish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 55 covered call (EZN CC) for a net debit in the $50.47 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 9.34% downside protection and an 8.98% assigned return rate for a 25.80% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
CLICK HERE: FREE Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).