Short QQQ ProShares (PSQ) 11/9/09 PriceWatch Alert Targets 6.67% Return
Posted: Monday, November 09, 2009 8:09 AM EDT
By: Market Intelligence Center Staff
Short QQQ ProShares (PCX: PSQ) ended the last trading session at $47.23. So far PSQ has hit a 52-week low of $46.06 and 52-week high of $94.83. PSQ has been showing support around 46.78 and resistance in the 48.04 range. Technical indicators are Bearish. PSQ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 45 covered call (PSQ DI) for a net debit in the $43.73 area. That is also the break even stock price for this trade. This covered call has a 159 day duration, provides 7.41% downside protection and a 2.90% assigned return rate for a 6.67% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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