SPDR S&P Biotech ETF (XBI) 11/13/09 PriceWatch Alert With Support Around $50.05
Posted: Friday, November 13, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $50.70. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 50.05 and resistance in the 51.75 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 50 covered call (XBI CX) for a net debit in the $47.50 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 6.31% downside protection and a 5.26% assigned return rate for a 15.13% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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