Rydex S&P Equal Weight ETF (RSP) 11/20/09 PriceWatch Alert Targets 14.95% Return
Posted: Friday, November 20, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PCX: RSP) closed yesterday at $38.02. So far RSP has hit a 52-week low of $20.19 and 52-week high of $38.95. RSP has been showing support around 37.39 and resistance in the 38.75 range. Technical indicators are Bullish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 38 covered call (RSP CL) for a net debit in the $36.22 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 4.73% downside protection and a 4.91% assigned return rate for a 14.95% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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