Ultra MidCap400 ProShares (MVV) 11/3/09 PriceWatch Alert With 6.33% Downside Protection

Posted: Tuesday, November 03, 2009 8:23 AM EDT

Ultra MidCap400 ProShares (PCX: MVV) closed yesterday at $34.76. So far MVV has hit a 52-week low of $13.37 and 52-week high of $41.08. MVV has been showing support around 32.76 and resistance in the 36.66 range. Technical indicators are Bearish. MVV appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 34 covered call (MVV BH) for a net debit in the $32.56 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 6.33% downside protection and a 4.42% assigned return rate for a 14.81% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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