Short S&P500 ProShares (SH) 11/9/09 PriceWatch Alert Technicals Showing Bearish
Posted: Monday, November 09, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) ended the last trading session at $55.19. So far SH has hit a 52-week low of $53.77 and 52-week high of $105.44. SH has been showing support around 54.65 and resistance in the 56.05 range. Technical indicators are Bearish. SH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a May '10 55 covered call (QRS EC) for a net debit in the $51.19 area. That is also the break even stock price for this trade. This covered call has a 194 day duration, provides 7.25% downside protection and a 7.44% assigned return rate for a 14.00% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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