iShares S&P GSSI Natural Resources Index (IGE) 11/16/09 PriceWatch Alert Down To $33.11 Break Even
Posted: Monday, November 16, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) ended the last trading session at $34.21. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 33.38 and resistance in the 34.86 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 35 covered call (IGE AI) for a net debit in the $33.11 area. That is also the break even stock price for this trade. This covered call has a 61 day duration, provides 3.22% downside protection and a 5.71% assigned return rate for a 34.16% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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