UBS ETRACS Silver Shares Covered Call ETN (SLVO)

UBS ETRACS Silver Shares Covered Call ETN is trading at $52.14, down 6.02% on the session. The 50 day average sits at $66.25 and the 200 day at $79.79, which puts the stock in a downtrend. RSI is at 30, which reads as oversold, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $56.00 with resistance near $63.15, so that band frames the current range. Average daily movement is roughly $1.60, or about 3.1% of the share price, which is what any stop placement has to allow for. The overall health score of 29 out of 100 combines a trend score of 3, momentum of 36 and a risk score of 59.

The index measures the return of a “covered call” strategy on the shares of the iShares® Silver Trust (the “SLV Shares”) by reflecting changes in the price of the SLV Shares and the notional option premiums received from the notional sale of monthly call options on the SLV Shares less notional transaction costs incurred in connection with the covered call strategy.