UltraShort Industrials ProShares (SIJ) 11/2/09 PriceWatch Alert With Support Around $26.58
Posted: Monday, November 02, 2009 8:45 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) ended the last trading session at $30.30. 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 26.58 and resistance in the 32.30 range. Technical indicators are Bullish. 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 $25.40 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 16.17% downside protection and a 10.24% assigned return rate for a 22.51% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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