SPDR S&P Metals & Mining ETF (XME) 11/19/09 PriceWatch Alert Targets 10.85% Downside Protection
Posted: Thursday, November 19, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $49.77. So far XME has hit a 52-week low of $17.15 and 52-week high of $50.70. XME has been showing support around 48.59 and resistance in the 51.29 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 49 covered call (XME CW) for a net debit in the $44.37 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 10.85% downside protection and a 10.43% assigned return rate for a 31.48% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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