UltraShort MidCap400 ProShares (MZZ) 11/12/09 PriceWatch Alert Support Down To $23.26
Posted: Thursday, November 12, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $23.99. 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 23.26 and resistance in the 24.68 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 $21.24 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 11.46% downside protection and an 8.29% assigned return rate for a 23.63% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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