UltraShort Industrials ProShares (SIJ) 11/4/09 PriceWatch Alert Bullish Price Movement

Posted: Wednesday, November 04, 2009 8:45 AM EDT

UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $29.07. 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 27.83 and resistance in the 31.27 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 $24.87 area. That is also the break even stock price for this trade. This covered call has a 164 day duration, provides 14.45% downside protection and a 12.59% assigned return rate for a 28.01% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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