Rydex S&P Equal Weight ETF (RSP) 11/16/09 PriceWatch Alert With 5.38% Downside Protection
Posted: Monday, November 16, 2009 8:16 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) ended the last trading session at $38.11. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.88. RSP has been showing support around 37.57 and resistance in the 38.55 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 38 covered call (RSP CL) for a net debit in the $36.06 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 5.38% downside protection and a 5.38% assigned return rate for a 15.84% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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