CurrencyShares Mexican Peso Trust (FXM) 11/20/09 PriceWatch Alert Targets 6.26% Return
Posted: Friday, November 20, 2009 8:29 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Mexican Peso Trust (PCX: FXM) closed yesterday at $76.81. So far FXM has hit a 52-week low of $64.29 and 52-week high of $78.51. FXM has been showing support around 76.38 and resistance in the 77.12 range. Technical indicators are Bullish. FXM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 77 covered call (FXM FY) for a net debit in the $74.31 area. That is also the break even stock price for this trade. This covered call has a 211 day duration, provides 3.25% downside protection and a 3.62% assigned return rate for a 6.26% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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