UltraShort MidCap400 ProShares (MZZ) 2/9/10 PriceWatch Alert Support At Around $22.99
Posted: Tuesday, February 09, 2010 8:35 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PACF: MZZ) closed yesterday at $23.89. So far MZZ has hit a 52-week low of $20.30 and 52-week high of $94.37. MZZ has been showing support around 22.99 and resistance in the 24.49 range. Technical indicators are Bullish. MZZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Sep '10 23 covered call for a net debit in the $20.79 area. That is also the break even stock price for this trade. This covered call has a 221 day duration, provides 12.98% downside protection and a 10.63% assigned return rate for a 17.56% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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