SPDR S&P 500 ETF (SPY) 11/19/09 PriceWatch Alert Shows Bullish Technicals
Posted: Thursday, November 19, 2009 8:45 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $111.27. 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 110.23 and resistance in the 111.95 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 $107.77 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 3.15% downside protection and a 3.00% assigned return rate for an 18.86% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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