UltraShort Financials ProShares (SKF) 11/3/09 PriceWatch Alert Support Down To $24.62
Posted: Tuesday, November 03, 2009 8:38 AM EDT
By: Market Intelligence Center Staff
UltraShort Financials ProShares (PCX: SKF) closed yesterday at $26.66. So far SKF has hit a 52-week low of $22.36 and 52-week high of $303.82. SKF has been showing support around 24.62 and resistance in the 29.04 range. Technical indicators are Bullish. SKF appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 21 covered call (FFW DU) for a net debit in the $19.01 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 28.69% downside protection and a 10.47% assigned return rate for a 23.16% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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