Short S&P500 ProShares (SH) 11/12/09 PriceWatch Alert Support Down To $53.02
Posted: Thursday, November 12, 2009 8:10 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) closed yesterday at $53.63. So far SH has hit a 52-week low of $53.31 and 52-week high of $105.44. SH has been showing support around 53.02 and resistance in the 54.20 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 $51.08 area. That is also the break even stock price for this trade. This covered call has a 100 day duration, provides 4.75% downside protection and a 3.76% assigned return rate for a 13.72% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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