SPDR S&P Metals & Mining ETF (XME) 11/20/09 PriceWatch Alert Up To 11.03% Downside Protection
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $48.94. So far XME has hit a 52-week low of $17.15 and 52-week high of $50.70. XME has been showing support around 47.10 and resistance in the 50.32 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 48 covered call (XME CV) for a net debit in the $43.54 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 11.03% downside protection and a 10.24% assigned return rate for a 31.16% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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