SPDR S&P 500 ETF (SPY) 11/17/09 PriceWatch Alert Support At Around $109.70

Posted: Tuesday, November 17, 2009 8:10 AM EDT

SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $111.21. So far SPY has hit a 52-week low of $67.10 and 52-week high of $111.69. SPY has been showing support around 109.70 and resistance in the 112.44 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 '10 111 covered call (SPY AG) for a net debit in the $107.56 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 3.28% downside protection and a 3.20% assigned return rate for a 19.46% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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