UltraShort Semiconductors ProShares (SSG) PriceWatch Alert Technicals Showing Bullish

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

UltraShort Semiconductors ProShares (AMEX: SSG) closed yesterday at $81.00. So far SSG has hit a 52-week low of $46.46 and 52-week high of $93.95. SSG has been showing support around 70.73 and resistance in the 86.23 range. Technical indicators are Bullish. SSG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '08 80 covered call (SSG LP) for a net debit in the $71.60 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 11.60% downside protection and an 11.73% assigned return rate for a 40.40% 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]