Rochester, NY 7/4/2009 3:46:42 AM
Friday Update - ICE - Technical Indicators are Bullish for Intercontinental Exchange - Sourced WhisperFromWallStreet.com
IntercontinentalExchange, Inc.
Friday Update - ICE - Technical Indicators are Bullish for Intercontinental Exchange - Sourced WhisperFromWallStreet.com
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INTERCNTNTLEXCHANGE,ICE
Intercontinental Exchange (NYSE: ICE) closed yesterday at $118.36. 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 112.86 and resistance in the 121.12 range. Technical indicators for the stock are Bullish 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 an Aug '09 115 covered call (IHH HC) for a net debit in the $107.86 area. That is also the break even stock price for this trade. This covered call has a 53 day duration, provides 8.87% downside protection and a 6.62% assigned return rate for a 45.59% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the ICE Jan '11 17.50 Call (VWU AW) and selling the Aug '09 115 call (IHH HC) for a $90.20 debit. The trade has a 53 day life and would provide 9.01% downside protection and an 8.09% assigned return rate for a 56.00% annualized return rate (for comparison purposes only).
About
IntercontinentalExchange, Inc., through its subsidiaries, owns and operates an Internet-based global electronic marketplace for trading in futures and over-the-counter (OTC) commodities, and derivative financial products in the United States, the United Kingdom, and Canada. Its products include contracts based on crude and refined oil products, natural gas, power, coal, sugar, cotton, coffee, cocoa, canola, orange juice, credit default swaps, and foreign exchange and equity index products. The company operates in three segments: Futures, OTC, and Market Data. The Futures segment offers trading in standardized derivative contracts on its regulated exchanges. The OTC segment provides trading in over-the-counter or off-exchange, energy-related products, and derivative contracts, including contracts that provide for the physical delivery of an underlying commodity or for financial settlement based on the price of an underlying commodity.
Last Trade: 109.14
Day's Range: 109.14 - 112.74
52wk Range: 49.69 - 121.93
Volume: 1,544,887
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