KBW Bank ETF (KBE) 11/20/09 PriceWatch Alert With 13.36% Downside Protection
Posted: Friday, November 20, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
KBW Bank ETF (PCX: KBE) closed yesterday at $21.71. So far KBE has hit a 52-week low of $8.90 and 52-week high of $25.06. KBE has been showing support around 21.37 and resistance in the 22.23 range. Technical indicators are Bullish. KBE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 21 covered call (KEJ FU) for a net debit in the $18.81 area. That is also the break even stock price for this trade. This covered call has a 211 day duration, provides 13.36% downside protection and an 11.64% assigned return rate for a 20.14% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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