SPDR S&P 500 ETF (SPY) 11/16/09 PriceWatch Alert With Support Around $108.15
Posted: Monday, November 16, 2009 8:28 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) ended the last trading session at $109.62. So far SPY has hit a 52-week low of $67.10 and 52-week high of $110.82. SPY has been showing support around 108.15 and resistance in the 110.83 range. Technical indicators are Bullish. SPY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 109 covered call (SWG AE) for a net debit in the $105.62 area. That is also the break even stock price for this trade. This covered call has a 61 day duration, provides 3.65% downside protection and a 3.20% assigned return rate for a 19.15% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
CLICK HERE: FREE (SPY) Stock ReportSee what our analysts have uncovered about (SPY).