SPDR S&P Oil & Gas Exploration & Production ETF (XOP) PriceWatch Alert for November 20, 2009
Posted: Friday, November 20, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PCX: XOP) closed yesterday at $38.36. So far XOP has hit a 52-week low of $22.89 and 52-week high of $44.17. XOP has been showing support around 37.59 and resistance in the 39.47 range. Technical indicators are Bearish. XOP 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 (XOA CL) for a net debit in the $35.06 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 8.60% downside protection and an 8.39% assigned return rate for a 25.51% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
CLICK HERE: FREE (XOP) Stock ReportSee what our analysts have uncovered about (XOP).