UltraShort Basic Materials ProShares (SMN) 10/5/09 PriceWatch Alert At $9.01 Break Even
Posted: Monday, October 05, 2009 8:28 AM EDT
By: Market Intelligence Center Staff
UltraShort Basic Materials ProShares (PCX: SMN) closed yesterday at $12.01. So far SMN has hit a 52-week low of $9.88 and 52-week high of $133.58. SMN has been showing support around 11.28 and resistance in the 12.76 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 an Apr '10 10 covered call (NOU DJ) for a net debit in the $9.01 area. That is also the break even stock price for this trade. This covered call has a 194 day duration, provides 24.98% downside protection and a 10.99% assigned return rate for a 20.67% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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