UltraShort Real Estate ProShares (SRS) PriceWatch Alert Shows Bearish Technicals
Posted: Monday, July 20, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Real Estate ProShares (PCX: SRS) ended the last trading session at $19.40. So far SRS has hit a 52-week low of $16.78 and 52-week high of $295.72. SRS has been showing support around 18.34 and resistance in the 20.22 range. Technical indicators are Bearish. SRS appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 13 covered call (SKW AM) for a net debit in the $11.70 area. That is also the break even stock price for this trade. This covered call has an 180 day duration, provides 39.69% downside protection and an 11.11% assigned return rate for a 22.53% 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 (SRS) Stock ReportSee what our analysts have uncovered about (SRS).