CurrencyShares Canadian Dollar Trust (FXC) 11/20/09 PriceWatch Alert Support Down To $92.99
Posted: Friday, November 20, 2009 8:29 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Canadian Dollar Trust (PCX: FXC) closed yesterday at $93.78. So far FXC has hit a 52-week low of $76.59 and 52-week high of $97.30. FXC has been showing support around 92.99 and resistance in the 94.35 range. Technical indicators are Bearish. FXC appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 93 covered call (FXC CO) for a net debit in the $90.38 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 3.63% downside protection and a 2.90% assigned return rate for an 8.82% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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