iShares Dow Jones U.S. Basic Materials Sector Index Fund (IYM) 11/20/09 PriceWatch Alert Could Hit 19.53% Return
Posted: Friday, November 20, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
iShares Dow Jones U.S. Basic Materials Sector Index Fund (PCX: IYM) closed yesterday at $59.00. So far IYM has hit a 52-week low of $28.17 and 52-week high of $60.73. IYM has been showing support around 57.51 and resistance in the 60.21 range. Technical indicators are Bullish. IYM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 58 covered call (IYM CF) for a net debit in the $54.50 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 7.63% downside protection and a 6.42% assigned return rate for a 19.53% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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