UltraShort Real Estate ProShares (SRS) PriceWatch Alert With Support Around $15.20
Posted: Friday, July 24, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Real Estate ProShares (PCX: SRS) closed yesterday at $16.73. So far SRS has hit a 52-week low of $16.36 and 52-week high of $295.72. SRS has been showing support around 15.20 and resistance in the 19.04 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 11 covered call (SKW AK) for a net debit in the $10.13 area. That is also the break even stock price for this trade. This covered call has a 176 day duration, provides 39.45% downside protection and an 8.59% assigned return rate for a 17.81% 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).