CurrencyShares Japanese Yen Trust (FXY) 11/17/09 PriceWatch Alert Could Hit 8.13% Return
Posted: Tuesday, November 17, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $111.44. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 110.38 and resistance in the 112.38 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 111 covered call (GDW CG) for a net debit in the $108.04 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 3.05% downside protection and a 2.74% assigned return rate for an 8.13% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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