UBS ETRACS Silver Shares Covered Call ETN (SLVO)

UBS ETRACS Silver Shares Covered Call ETN is trading at $68.94, down 1.56% on the session. The 50 day average sits at $69.57 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 57.8, which reads as strong, and MACD is bullish crossover. Volume is below average.

The nearest support is around $63.10 with resistance near $69.22, so that band frames the current range. Average daily movement is roughly $1.81, or about 2.6% of the share price, which is what any stop placement has to allow for. The overall health score of 61 out of 100 combines a trend score of 45, momentum of 83 and a risk score of 55.

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.