UltraShort Technology ProShares (REW) 11/12/09 PriceWatch Alert Up To 18.30% Downside Protection
Posted: Thursday, November 12, 2009 8:13 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $25.14. So far REW has hit a 52-week low of $24.91 and 52-week high of $160.95. REW has been showing support around 24.67 and resistance in the 25.61 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 $20.54 area. That is also the break even stock price for this trade. This covered call has a 219 day duration, provides 18.30% downside protection and a 9.54% assigned return rate for a 15.90% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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