UltraShort MidCap400 ProShares (MZZ) PriceWatch Alert for July 6, 2009

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

UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $39.26. So far MZZ has hit a 52-week low of $35.04 and 52-week high of $159.34. MZZ has been showing support around 37.76 and resistance in the 40.22 range. Technical indicators are Bearish. MZZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 39 covered call (MWZ LM) for a net debit in the $33.16 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 15.54% downside protection and a 17.61% assigned return rate for a 38.72% 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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