iShares S&P GSSI Natural Resources Index (IGE) PriceWatch Alert for November 18, 2009
Posted: Wednesday, November 18, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $35.06. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 34.51 and resistance in the 35.37 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 36 covered call (IGE AJ) for a net debit in the $34.11 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 2.71% downside protection and a 5.54% assigned return rate for a 34.28% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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