UltraShort Industrials ProShares (SIJ) 11/6/09 PriceWatch Alert With $23.62 Break Even

Posted: Friday, November 06, 2009 8:28 AM EDT

UltraShort Industrials ProShares (PCX: SIJ) closed yesterday at $27.42. 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 26.28 and resistance in the 29.66 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 26 covered call (SIJ DO) for a net debit in the $23.62 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 13.86% downside protection and a 10.08% assigned return rate for a 22.70% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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