UltraShort MidCap400 ProShares (MZZ) 11/13/09 PriceWatch Alert At $22.13 Break Even
Posted: Friday, November 13, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $24.68. So far MZZ has hit a 52-week low of $23.28 and 52-week high of $159.34. MZZ has been showing support around 23.38 and resistance in the 25.40 range. Technical indicators are Bearish. MZZ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 24 covered call (MXS CX) for a net debit in the $22.13 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 10.33% downside protection and an 8.45% assigned return rate for a 24.29% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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