Market Vectors - Steel ETF (SLX) 11/16/09 PriceWatch Alert With 11.95% Downside Protection
Posted: Monday, November 16, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) ended the last trading session at $56.88. So far SLX has hit a 52-week low of $20.19 and 52-week high of $59.62. SLX has been showing support around 54.83 and resistance in the 58.17 range. Technical indicators are Bullish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 56 covered call (EZN FD) for a net debit in the $50.08 area. That is also the break even stock price for this trade. This covered call has a 215 day duration, provides 11.95% downside protection and an 11.82% assigned return rate for a 20.07% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
CLICK HERE: FREE Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).