CurrencyShares Japanese Yen Trust (FXY) 11/20/09 PriceWatch Alert Targets 7.87% Return
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $111.50. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 111.17 and resistance in the 112.11 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 111 covered call (GDW CG) for a net debit in the $108.20 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 2.96% downside protection and a 2.59% assigned return rate for a 7.87% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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