SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 11/19/09 PriceWatch Alert Support At Around $38.76
Posted: Thursday, November 19, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $39.36. 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 38.76 and resistance in the 40.22 range. Technical indicators are Neutral. 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 $35.96 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 8.64% downside protection and an 8.45% assigned return rate for a 25.50% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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