Short S&P500 ProShares (SH) PriceWatch Alert for November 10, 2009
Posted: Tuesday, November 10, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) closed yesterday at $53.90. 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 53.29 and resistance in the 55.11 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 Feb '10 53 covered call (QRS BA) for a net debit in the $51.10 area. That is also the break even stock price for this trade. This covered call has a 102 day duration, provides 5.19% downside protection and a 3.72% assigned return rate for a 13.31% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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