UltraShort Industrials ProShares (SIJ) PriceWatch Alert Down To $38.10 Break Even

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

UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $45.20. So far SIJ has hit a 52-week low of $37.36 and 52-week high of $173.50. SIJ has been showing support around 43.59 and resistance in the 46.15 range. Technical indicators are Neutral. SIJ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 45 covered call (SIJ AI) for a net debit in the $38.10 area. That is also the break even stock price for this trade. This covered call has a 194 day duration, provides 15.71% downside protection and an 18.11% assigned return rate for a 34.07% 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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