PowerShares Water Resource Portfolio (PHO) 11/20/09 PriceWatch Alert Targets 17.49% Return
Posted: Friday, November 20, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
PowerShares Water Resource Portfolio (PCX: PHO) closed yesterday at $16.28. So far PHO has hit a 52-week low of $10.10 and 52-week high of $17.52. PHO has been showing support around 15.92 and resistance in the 16.74 range. Technical indicators are Neutral. PHO appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 16 covered call (PHO CP) for a net debit in the $15.13 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 7.06% downside protection and a 5.75% assigned return rate for a 17.49% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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