UltraShort Basic Materials ProShares (SMN) PriceWatch Alert Technicals Showing Bearish
Posted: Wednesday, July 29, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Basic Materials ProShares (PCX: SMN) closed yesterday at $14.97. 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 14.36 and resistance in the 15.86 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 $11.07 area. That is also the break even stock price for this trade. This covered call has a 171 day duration, provides 26.05% downside protection and an 8.40% assigned return rate for a 17.93% 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).