PowerShares Water Resource Portfolio (PHO) 11/13/09 PriceWatch Alert Targets 6.81% Downside Protection
Posted: Friday, November 13, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
PowerShares Water Resource Portfolio (PCX: PHO) closed yesterday at $16.16. So far PHO has hit a 52-week low of $10.10 and 52-week high of $17.52. PHO has been showing support around 15.83 and resistance in the 16.69 range. Technical indicators are Bearish. PHO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 16 covered call (PHO CP) for a net debit in the $15.06 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 6.81% downside protection and a 6.24% assigned return rate for a 17.94% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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