UltraShort Technology ProShares (REW) 11/11/09 PriceWatch Alert Support At Around $25.05
Posted: Wednesday, November 11, 2009 8:38 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $25.53. So far REW has hit a 52-week low of $25.26 and 52-week high of $160.95. REW has been showing support around 25.05 and resistance in the 25.95 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 $20.53 area. That is also the break even stock price for this trade. This covered call has a 220 day duration, provides 19.58% downside protection and a 9.60% assigned return rate for a 15.92% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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