Short Dow30 ProShares (DOG) 11/6/09 PriceWatch Alert Targets 4.09% Downside Protection

Posted: Friday, November 06, 2009 8:39 AM EDT

Short Dow30 ProShares (PCX: DOG) closed yesterday at $55.02. So far DOG has hit a 52-week low of $54.55 and 52-week high of $93.13. DOG has been showing support around 54.44 and resistance in the 56.06 range. Technical indicators are Bearish. DOG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 55 covered call (DOG BC) for a net debit in the $52.77 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 4.09% downside protection and a 4.23% assigned return rate for a 14.55% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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