Short S&P500 ProShares (SH) 11/13/09 PriceWatch Alert With $51.61 Break Even
Posted: Friday, November 13, 2009 8:20 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) closed yesterday at $54.21. 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 53.10 and resistance in the 54.90 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 54 covered call (QRS BP) for a net debit in the $51.61 area. That is also the break even stock price for this trade. This covered call has a 99 day duration, provides 4.80% downside protection and a 4.63% assigned return rate for a 17.07% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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