iShares S&P GSSI Natural Resources Index (IGE) 11/19/09 PriceWatch Alert With Support Around $34.30
Posted: Thursday, November 19, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $34.87. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 34.30 and resistance in the 35.56 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 35 covered call (IGE AI) for a net debit in the $33.57 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 3.73% downside protection and a 4.26% assigned return rate for a 26.81% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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