Short QQQ ProShares (PSQ) 2/9/10 PriceWatch Alert Targets 5.26% Downside Protection
Posted: Tuesday, February 09, 2010 8:46 AM EDT
By: Market Intelligence Center Staff
Short QQQ ProShares (PACF: PSQ) closed yesterday at $46.57. So far PSQ has hit a 52-week low of $42.76 and 52-week high of $82.78. PSQ has been showing support around 45.83 and resistance in the 46.99 range. Technical indicators are Bullish. PSQ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 45 covered call for a net debit in the $44.12 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 5.26% downside protection and a 1.99% assigned return rate for a 10.87% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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