Ultra Technology ProShares (ROM) PriceWatch Alert Targets 17.37% Downside Protection

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

Ultra Technology ProShares (PCX: ROM) closed yesterday at $31.09. So far ROM has hit a 52-week low of $15.64 and 52-week high of $64.49. ROM has been showing support around 30.32 and resistance in the 32.32 range. Technical indicators are Bullish. ROM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 30 covered call (ROM BF) for a net debit in the $25.69 area. That is also the break even stock price for this trade. This covered call has a 229 day duration, provides 17.37% downside protection and a 16.78% assigned return rate for a 26.74% 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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