UltraShort MidCap400 ProShares (MZZ) 11/6/09 PriceWatch Alert Up To 17.28% Downside Protection

Posted: Friday, November 06, 2009 8:46 AM EDT

UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $25.46. So far MZZ has hit a 52-week low of $23.28 and 52-week high of $159.34. MZZ has been showing support around 24.77 and resistance in the 26.83 range. Technical indicators are Bearish. MZZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 24 covered call (MXS FX) for a net debit in the $21.06 area. That is also the break even stock price for this trade. This covered call has a 225 day duration, provides 17.28% downside protection and a 13.96% assigned return rate for a 22.65% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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