UltraShort Technology ProShares (REW) 11/9/09 PriceWatch Alert Support Down To $26.10
Posted: Monday, November 09, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) ended the last trading session at $26.69. So far REW has hit a 52-week low of $25.49 and 52-week high of $160.95. REW has been showing support around 26.10 and resistance in the 27.40 range. Technical indicators are Bearish. REW appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 25 covered call (REW CE) for a net debit in the $23.09 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 13.49% downside protection and an 8.27% assigned return rate for a 23.05% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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