UltraShort Industrials ProShares (SIJ) 10/30/09 PriceWatch Alert With Support Around $27.79
Posted: Friday, October 30, 2009 8:10 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $28.72. So far SIJ has hit a 52-week low of $25.50 and 52-week high of $173.50. SIJ has been showing support around 27.79 and resistance in the 30.15 range. Technical indicators are Bearish. SIJ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 28 covered call (SIJ DP) for a net debit in the $24.82 area. That is also the break even stock price for this trade. This covered call has a 169 day duration, provides 13.58% downside protection and a 12.81% assigned return rate for a 27.67% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
CLICK HERE: FREE (SIJ) Stock ReportSee what our analysts have uncovered about (SIJ).