UltraShort Technology ProShares (REW) 11/13/09 PriceWatch Alert With Support Around $24.56
Posted: Friday, November 13, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $25.37. So far REW has hit a 52-week low of $24.81 and 52-week high of $160.95. REW has been showing support around 24.56 and resistance in the 25.88 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 $21.07 area. That is also the break even stock price for this trade. This covered call has a 218 day duration, provides 16.95% downside protection and a 6.79% assigned return rate for an 11.36% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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