CurrencyShares British Pound Sterling Trust (FXB) 11/20/09 PriceWatch Alert With $162.80 Break Even
Posted: Friday, November 20, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
CurrencyShares British Pound Sterling Trust (PCX: FXB) closed yesterday at $166.20. So far FXB has hit a 52-week low of $136.07 and 52-week high of $170.12. FXB has been showing support around 165.48 and resistance in the 166.60 range. Technical indicators are Bullish. FXB appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 170 covered call (FFK CN) for a net debit in the $162.80 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 2.05% downside protection and a 4.42% assigned return rate for a 13.45% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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