CurrencyShares Japanese Yen Trust (FXY) 11/16/09 PriceWatch Alert Targets 7.63% Return
Posted: Monday, November 16, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) ended the last trading session at $110.72. 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 110.43 and resistance in the 111.11 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 '10 110 covered call (GDW CF) for a net debit in the $107.22 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 3.16% downside protection and a 2.59% assigned return rate for a 7.63% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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