Ultra Dow30 ProShares (DDM) 11/6/09 PriceWatch Alert With $37.44 Break Even

Posted: Friday, November 06, 2009 8:35 AM EDT

Ultra Dow30 ProShares (PCX: DDM) closed yesterday at $40.19. So far DDM has hit a 52-week low of $17.21 and 52-week high of $41.17. DDM has been showing support around 38.80 and resistance in the 40.96 range. Technical indicators are Bullish. DDM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 40 covered call (HXD AN) for a net debit in the $37.44 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 6.84% downside protection and a 6.84% assigned return rate for a 35.15% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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