Short S&P500 ProShares (SH) 11/3/09 PriceWatch Alert Up To 5.20% Downside Protection

Posted: Tuesday, November 03, 2009 8:41 AM EDT

Short S&P500 ProShares (PCX: SH) closed yesterday at $56.73. So far SH has hit a 52-week low of $53.77 and 52-week high of $105.44. SH has been showing support around 55.46 and resistance in the 58.06 range. Technical indicators are Bullish. SH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 56 covered call (QRS BD) for a net debit in the $53.78 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 5.20% downside protection and a 4.13% assigned return rate for a 13.82% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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