Short Russell2000 ProShares (RWM) 11/11/09 PriceWatch Alert Down To $44.05 Break Even
Posted: Wednesday, November 11, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
Short Russell2000 ProShares (PCX: RWM) closed yesterday at $47.55. So far RWM has hit a 52-week low of $45.06 and 52-week high of $126.12. RWM has been showing support around 46.60 and resistance in the 48.36 range. Technical indicators are Bearish. RWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 45 covered call (RWM AI) for a net debit in the $44.05 area. That is also the break even stock price for this trade. This covered call has a 66 day duration, provides 7.36% downside protection and a 2.16% assigned return rate for an 11.93% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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