Short QQQ ProShares (PSQ) PriceWatch Alert Support Down To $56.41
Posted: Monday, July 06, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Short QQQ ProShares (PCX: PSQ) closed yesterday at $57.47. So far PSQ has hit a 52-week low of $54.77 and 52-week high of $94.83. PSQ has been showing support around 56.41 and resistance in the 58.13 range. Technical indicators are Bearish. PSQ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Oct '09 55 covered call (PSQ JK) for a net debit in the $53.47 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 6.96% downside protection and a 2.86% assigned return rate for a 10.14% 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]
CLICK HERE: FREE (PSQ) Stock ReportSee what our analysts have uncovered about (PSQ).