KBW Insurance ETF (KIE) 11/20/09 PriceWatch Alert With Support Around $33.79
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
KBW Insurance ETF (PCX: KIE) closed yesterday at $34.46. So far KIE has hit a 52-week low of $14.30 and 52-week high of $37.84. KIE has been showing support around 33.79 and resistance in the 35.33 range. Technical indicators are Neutral. KIE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 35 covered call (KIE CI) for a net debit in the $33.26 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 3.48% downside protection and a 5.23% assigned return rate for a 15.91% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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