UltraShort Real Estate ProShares (SRS) PriceWatch Alert Support At Around $17.19

Posted: Wednesday, July 22, 2009 8:07 AM EDT

UltraShort Real Estate ProShares (PCX: SRS) closed yesterday at $18.26. 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 17.19 and resistance in the 19.47 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 12 covered call (SKW AL) for a net debit in the $10.96 area. That is also the break even stock price for this trade. This covered call has a 178 day duration, provides 39.98% downside protection and a 9.49% assigned return rate for a 19.46% 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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