iShares S&P GSCI Commodity-Indexed (GSG) 11/18/09 PriceWatch Alert With Support Around $31.75
Posted: Wednesday, November 18, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSCI Commodity-Indexed (PCX: GSG) closed yesterday at $32.64. So far GSG has hit a 52-week low of $21.85 and 52-week high of $33.72. GSG has been showing support around 31.75 and resistance in the 33.13 range. Technical indicators are Bullish. GSG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 32 covered call (GSV AF) for a net debit in the $30.94 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 5.21% downside protection and a 3.43% assigned return rate for a 21.19% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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