SPDR S&P 500 ETF (SPY) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $109.82. So far SPY has hit a 52-week low of $67.10 and 52-week high of $111.69. SPY has been showing support around 107.91 and resistance in the 112.27 range. Technical indicators are Bullish. SPY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 109 covered call (SWG AE) for a net debit in the $106.02 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 3.46% downside protection and a 2.81% assigned return rate for an 18.00% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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