SPDR Oil & Gas Equipment & Services ETF (XES)

[OilStockReport]

Oil & Gas Equipment & Services (AMEX:XES) closed Monday's bullish trading session at $34.74. In the past year, the ETF has hit a 52-week low of $25.58 and 52-week high of $44.63. Oil & Gas Equipment & Services (XES) has been showing support around $32.85 and resistance in the $35.69 range.

Technical indicators for the ETF are Bullish. For a hedged play on Oil & Gas Equipment & Services (XES), look at the Dec '11 $34.00 covered call for a net debit in the $32.59 area. That is also the break-even price for this trade. This covered call has a duration of 53 days, provides 6.19% downside protection and an assigned return rate of 4.33% for an annualized return rate of 29.80% (for comparison purposes only).

Oil & Gas Equipment & Services (XES) has a current trailing average distribution yield of 0%. [ATU-Seven Summits Research]