Ultra Industrials ProShares (UXI) 11/6/09 PriceWatch Alert Targets 11.36% Downside Protection
Posted: Friday, November 06, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
Ultra Industrials ProShares (PCX: UXI) closed yesterday at $28.18. So far UXI has hit a 52-week low of $9.48 and 52-week high of $30.30. UXI has been showing support around 26.80 and resistance in the 28.90 range. Technical indicators are Bullish. UXI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 28 covered call (UXI DB) for a net debit in the $24.98 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 11.36% downside protection and a 12.09% assigned return rate for a 27.24% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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