SPDR S&P 500 ETF (SPY) 11/18/09 PriceWatch Alert Targets 18.42% Return
Posted: Wednesday, November 18, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $111.34. So far SPY has hit a 52-week low of $67.10 and 52-week high of $111.69. SPY has been showing support around 110.19 and resistance in the 111.97 range. Technical indicators are Bullish. SPY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 111 covered call (SPY AG) for a net debit in the $107.79 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 3.19% downside protection and a 2.98% assigned return rate for an 18.42% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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