SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/17/09 PriceWatch Alert At $36.81 Break Even
Posted: Tuesday, November 17, 2009 8:36 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $40.21. 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 39.54 and resistance in the 40.88 range. Technical indicators are Bullish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 40 covered call (XOA CN) for a net debit in the $36.81 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 8.46% downside protection and an 8.67% assigned return rate for a 25.72% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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