Short S&P500 ProShares (SH) 11/11/09 PriceWatch Alert Targets 4.73% Downside Protection
Posted: Wednesday, November 11, 2009 8:09 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) closed yesterday at $53.91. So far SH has hit a 52-week low of $53.75 and 52-week high of $105.44. SH has been showing support around 53.49 and resistance in the 54.43 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 $51.36 area. That is also the break even stock price for this trade. This covered call has a 101 day duration, provides 4.73% downside protection and a 3.19% assigned return rate for an 11.54% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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