SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/18/09 PriceWatch Alert Support At Around $39.18
Posted: Wednesday, November 18, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $39.76. 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 39.18 and resistance in the 40.48 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 39 covered call (XOA CM) for a net debit in the $36.16 area. That is also the break even stock price for this trade. This covered call has a 122 day duration, provides 9.05% downside protection and a 7.85% assigned return rate for a 23.50% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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