UltraShort Technology ProShares (REW) 11/10/09 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, November 10, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $25.45. So far REW has hit a 52-week low of $25.45 and 52-week high of $160.95. REW has been showing support around 24.90 and resistance in the 26.56 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 Jun '10 22.50 covered call (REW FX) for a net debit in the $20.45 area. That is also the break even stock price for this trade. This covered call has a 221 day duration, provides 19.65% downside protection and a 10.02% assigned return rate for a 16.56% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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