UltraShort Industrials ProShares (SIJ) 11/9/09 PriceWatch Alert At $23.61 Break Even
Posted: Monday, November 09, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
UltraShort Industrials ProShares (PCX: SIJ) ended the last trading session at $26.91. 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 26.32 and resistance in the 27.94 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 $23.61 area. That is also the break even stock price for this trade. This covered call has a 159 day duration, provides 12.26% downside protection and a 10.12% assigned return rate for a 23.24% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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