UltraShort MidCap400 ProShares (MZZ) 11/16/09 PriceWatch Alert With Support Around $23.54
Posted: Monday, November 16, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) ended the last trading session at $24.20. 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 23.54 and resistance in the 25.18 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 23 covered call (MXS CW) for a net debit in the $21.50 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 11.16% downside protection and a 6.98% assigned return rate for a 20.54% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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