Short Russell2000 ProShares (RWM) 11/13/09 PriceWatch Alert Support Down To $46.33
Posted: Friday, November 13, 2009 8:29 AM EDT
By: Market Intelligence Center Staff
Short Russell2000 ProShares (PCX: RWM) closed yesterday at $48.08. 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 46.33 and resistance in the 49.05 range. Technical indicators are Bullish. 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 $43.48 area. That is also the break even stock price for this trade. This covered call has a 155 day duration, provides 9.57% downside protection and a 3.50% assigned return rate for an 8.23% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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