UltraShort Basic Materials ProShares (SMN) PriceWatch Alert Up To 18.66% Return
Posted: Tuesday, July 28, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Basic Materials ProShares (NYSE: SMN) closed yesterday at $14.63. So far SMN has hit a 52-week low of $14.42 and 52-week high of $133.58. SMN has been showing support around 14.06 and resistance in the 15.34 range. Technical indicators are Bearish. SMN 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 (NOU AL) for a net debit in the $11.03 area. That is also the break even stock price for this trade. This covered call has a 172 day duration, provides 24.61% downside protection and an 8.79% assigned return rate for an 18.66% 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 (SMN) Stock ReportSee what our analysts have uncovered about (SMN).