UltraShort Basic Materials ProShares (SMN) PriceWatch Alert At $10.98 Break Even
Posted: Monday, August 03, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
UltraShort Basic Materials ProShares (PCX: SMN) ended the last trading session at $14.28. So far SMN has hit a 52-week low of $14.03 and 52-week high of $133.58. SMN has been showing support around 13.53 and resistance in the 15.29 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 $10.98 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 23.11% downside protection and a 9.29% assigned return rate for a 20.43% 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).