Rydex S&P Equal Weight ETF (RSP) 11/19/09 PriceWatch Alert Targets 13.43% Return
Posted: Thursday, November 19, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $38.63. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.95. RSP has been showing support around 38.24 and resistance in the 38.98 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 38 covered call (RSP CL) for a net debit in the $36.38 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 5.82% downside protection and a 4.45% assigned return rate for a 13.43% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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