Rochester, NY 7/3/2009 10:38:03 PM
July 4th Update - SPY - Technical Indicators are Bullish for SPY - Sourced WhisperFromWallStreet.com
S&P DEP RECEIPTS
July 4th Update - SPY - Technical Indicators are Bullish for SPY - Sourced WhisperFromWallStreet.com
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S&P DEP RECEIPTS,SPY
SPDR S&P 500 ETF (PCX: SPY) closed yesterday at $92.70. So far SPY has hit a 52-week low of $67.10 and 52-week high of $131.51. SPY has been showing support around 91.15 and resistance in the 93.59 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 an Aug '09 92 covered call (SWG HN) for a net debit in the $89.10 area. That is also the break even stock price for this trade. This covered call has a 53 day duration, provides 3.88% downside protection and a 3.25% assigned return rate for a 22.41% annualized return rate (comparison purposes only).
About
The investment seeks to correspond generally to the price and yield performance, before fees and expenses, of the S&P 500 Index. SPDR Trust is an exchange-traded fund that holds all of the S&P 500 Index stocks. It is comprised of undivided ownership interests called SPDRs. The fund issues and redeems SPDRs only in multiples of 50,000 SPDRs in exchange for S&P 500 Index stocks and cash.
Last Trade: 89.81
Day's Range: 89.76 - 92.36
52wk Range: 67.10 - 131.51
Volume: 212,309,828
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