UltraShort Technology ProShares (REW) 11/16/09 PriceWatch Alert With Support Around $24.40
Posted: Monday, November 16, 2009 8:20 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) ended the last trading session at $24.90. So far REW has hit a 52-week low of $24.75 and 52-week high of $160.95. REW has been showing support around 24.40 and resistance in the 25.60 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 $20.50 area. That is also the break even stock price for this trade. This covered call has a 215 day duration, provides 17.67% downside protection and a 9.76% assigned return rate for a 16.56% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
CLICK HERE: FREE (REW) Stock ReportSee what our analysts have uncovered about (REW).