iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) 11/20/09 PriceWatch Alert Targets 23.40% Return
Posted: Friday, November 20, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (PCX: IEO) closed yesterday at $49.90. So far IEO has hit a 52-week low of $29.16 and 52-week high of $56.99. IEO has been showing support around 48.73 and resistance in the 51.43 range. Technical indicators are Bearish. IEO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 49 covered call (IVS CW) for a net debit in the $45.50 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 8.82% downside protection and a 7.69% assigned return rate for a 23.40% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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