Ultra QQQ ProShares (QLD) PriceWatch Alert for July 6, 2009

Posted: Monday, July 06, 2009 8:07 AM EDT

Ultra QQQ ProShares (PCX: QLD) closed yesterday at $36.52. So far QLD has hit a 52-week low of $19.46 and 52-week high of $83.55. QLD has been showing support around 35.55 and resistance in the 38.03 range. Technical indicators are Bullish. QLD appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Oct '09 35 covered call (QLA JI) for a net debit in the $31.82 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 12.87% downside protection and a 9.99% assigned return rate for a 35.41% 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]

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