UltraShort Real Estate ProShares (SRS) PriceWatch Alert Shows Bearish Technicals
Posted: Tuesday, July 28, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Real Estate ProShares (NYSE: SRS) closed yesterday at $15.99. So far SRS has hit a 52-week low of $15.90 and 52-week high of $295.72. SRS has been showing support around 15.34 and resistance in the 17.10 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 $10.09 area. That is also the break even stock price for this trade. This covered call has a 172 day duration, provides 36.90% downside protection and a 9.02% assigned return rate for a 19.14% 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).