UltraShort Technology ProShares (REW) PriceWatch Alert Up To 12.43% Downside Protection

Posted on Friday, September 05, 2008 8:07 AM

UltraShort Technology ProShares (AMEX: REW) closed yesterday at $70.80. So far REW has hit a 52-week low of $47.00 and 52-week high of $82.00. REW has been showing support around 66.68 and resistance in the 72.86 range. Technical indicators are Bullish. REW appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '08 65 covered call (REW LM) for a net debit in the $62.00 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 12.43% downside protection and a 4.84% assigned return rate for a 16.66% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]