UltraShort Industrials ProShares (SIJ) 11/5/09 PriceWatch Alert Up To 12.41% Downside Protection
Posted: Thursday, November 05, 2009 8:03 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $29.00. 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 27.22 and resistance in the 29.98 range. Technical indicators are Bearish. 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 $25.40 area. That is also the break even stock price for this trade. This covered call has a 163 day duration, provides 12.41% downside protection and a 10.24% assigned return rate for a 22.92% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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