UltraShort MidCap400 ProShares (MZZ) 11/11/09 PriceWatch Alert Up To 20.73% Return
Posted: Wednesday, November 11, 2009 8:12 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $24.33. So far MZZ has hit a 52-week low of $23.28 and 52-week high of $159.34. MZZ has been showing support around 23.82 and resistance in the 24.94 range. Technical indicators are Bearish. MZZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 23 covered call (MXS CW) for a net debit in the $21.43 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 11.92% downside protection and a 7.33% assigned return rate for a 20.73% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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