SPDR S&P Biotech ETF (XBI) 11/17/09 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, November 17, 2009 8:02 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $51.31. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 50.11 and resistance in the 52.07 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 51 covered call (XBI CY) for a net debit in the $48.21 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 6.04% downside protection and a 5.79% assigned return rate for a 17.17% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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