CurrencyShares Japanese Yen Trust (FXY) 11/13/09 PriceWatch Alert Targets 3.28% Downside Protection
Posted: Friday, November 13, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.82. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 109.45 and resistance in the 110.13 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 109 covered call (GDW CE) for a net debit in the $106.22 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 3.28% downside protection and a 2.62% assigned return rate for a 7.52% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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