SPDR S&P Oil & Gas Exploration & Production ETF (XOP) PriceWatch Alert for November 16, 2009
Posted: Monday, November 16, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) ended the last trading session at $39.38. So far XOP has hit a 52-week low of $22.89 and 52-week high of $44.17. XOP has been showing support around 38.51 and resistance in the 40.09 range. Technical indicators are Neutral. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 39 covered call (XOA CM) for a net debit in the $35.88 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 8.89% downside protection and an 8.70% assigned return rate for a 25.60% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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