Short Russell2000 ProShares (RWM) 11/6/09 PriceWatch Alert With $43.15 Break Even

Posted: Friday, November 06, 2009 8:25 AM EDT

Short Russell2000 ProShares (PCX: RWM) closed yesterday at $48.25. So far RWM has hit a 52-week low of $45.06 and 52-week high of $126.12. RWM has been showing support around 47.39 and resistance in the 49.75 range. Technical indicators are Neutral. RWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 45 covered call (RWM DI) for a net debit in the $43.15 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 10.57% downside protection and a 4.29% assigned return rate for a 9.66% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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