Ultra Basic Materials ProShares (UYM) PriceWatch Alert At $12.05 Break Even

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

Ultra Basic Materials ProShares (PCX: UYM) closed yesterday at $16.65. So far UYM has hit a 52-week low of $7.85 and 52-week high of $92.77. UYM has been showing support around 16.24 and resistance in the 17.26 range. Technical indicators are Neutral. UYM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Nov '09 13 covered call (UYM KG) for a net debit in the $12.05 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 27.63% downside protection and a 7.88% assigned return rate for a 20.85% 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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