SPDR S&P Metals & Mining ETF (XME) 11/25/09 PriceWatch Alert Up To 41.41% Return
Posted: Wednesday, November 25, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PCX: XME) closed yesterday at $49.27. So far XME has hit a 52-week low of $20.20 and 52-week high of $50.73. XME has been showing support around 47.86 and resistance in the 50.14 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 Jan '10 49 covered call (XME AW) for a net debit in the $46.27 area. That is also the break even stock price for this trade. This covered call has a 52 day duration, provides 6.09% downside protection and a 5.90% assigned return rate for a 41.41% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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