Rochester, NY 7/16/2009 4:25:03 AM
ICE - Technical Indicators are Bearish for Intercontinental Exchange
Intercontinental Exchange
INTERCNTNTLEXCHANGE, ICE
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Intercontinental Exchange closed yesterday at $89.02. So far the stock has hit a 52-week low of $49.69 and 52-week high of $121.93. Intercontinental Exchange stock has been showing support around 81.14 and resistance in the 93.34 range. Technical indicators for the stock are Bearish and S&P gives ICE a neutral 3 STAR (out of 5) hold rating. ICE appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Sep '09 85 covered call (ICE IQ) for a net debit in the $77.92 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 12.47% downside protection and a 9.09% assigned return rate for a 49.50% annualized return rate (comparison purposes only).
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