Direxion Daily Energy Bull 3X Shares (ERX) 11/20/09 PriceWatch Alert With $37.44 Break Even
Posted: Friday, November 20, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
Direxion Daily Energy Bull 3X Shares (PCX: ERX) closed yesterday at $44.24. So far ERX has hit a 52-week low of $16.23 and 52-week high of $54.54. ERX has been showing support around 41.97 and resistance in the 47.55 range. Technical indicators are Bullish. ERX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 44 covered call (ERX DE) for a net debit in the $37.44 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 15.37% downside protection and a 17.52% assigned return rate for a 43.21% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
CLICK HERE: FREE (ERX) Stock ReportSee what our analysts have uncovered about (ERX).