Short Russell2000 ProShares (RWM) 11/12/09 PriceWatch Alert Bearish Price Movement
Posted: Thursday, November 12, 2009 8:23 AM EDT
By: Market Intelligence Center Staff
Short Russell2000 ProShares (PCX: RWM) closed yesterday at $47.15. So far RWM has hit a 52-week low of $45.06 and 52-week high of $126.12. RWM has been showing support around 46.30 and resistance in the 47.96 range. Technical indicators are Bearish. RWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 45 covered call (RWM DI) for a net debit in the $43.15 area. That is also the break even stock price for this trade. This covered call has a 156 day duration, provides 8.48% downside protection and a 4.29% assigned return rate for a 10.03% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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