Rydex S&P Equal Weight ETF (RSP) 11/17/09 PriceWatch Alert Targets 12.36% Return
Posted: Tuesday, November 17, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $38.73. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.95. RSP has been showing support around 38.09 and resistance in the 39.27 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 $36.48 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 5.81% downside protection and a 4.17% assigned return rate for a 12.36% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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