Short S&P500 ProShares (SH) PriceWatch Alert Technicals Showing Bearish

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

Short S&P500 ProShares (PCX: SH) closed yesterday at $67.21. So far SH has hit a 52-week low of $63.30 and 52-week high of $105.44. SH has been showing support around 65.92 and resistance in the 67.86 range. Technical indicators are Bearish. SH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Nov '09 65 covered call (QRS KM) for a net debit in the $62.21 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 7.44% downside protection and a 4.48% assigned return rate for an 11.86% 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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