UltraShort Industrials ProShares (SIJ) 11/3/09 PriceWatch Alert Technicals Showing Bullish
Posted: Tuesday, November 03, 2009 8:45 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $29.85. 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 28.43 and resistance in the 31.47 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 $24.95 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 16.42% downside protection and a 12.22% assigned return rate for a 27.04% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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