PowerShares DB US Dollar Index Bearish Fund (UDN) 11/6/09 PriceWatch Alert With Support Around $28.22

Posted: Friday, November 06, 2009 8:32 AM EDT

PowerShares DB US Dollar Index Bearish Fund (PCX: UDN) closed yesterday at $28.31. So far UDN has hit a 52-week low of $24.09 and 52-week high of $28.60. UDN has been showing support around 28.22 and resistance in the 28.42 range. Technical indicators are Bullish. UDN appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 28 covered call (UDN FU) for a net debit in the $27.01 area. That is also the break even stock price for this trade. This covered call has a 225 day duration, provides 4.59% downside protection and a 3.67% assigned return rate for a 5.95% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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