UltraShort Financials ProShares (SKF) 11/16/09 PriceWatch Alert Targets 24.61% Downside Protection
Posted: Monday, November 16, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
UltraShort Financials ProShares (PCX: SKF) ended the last trading session at $24.58. So far SKF has hit a 52-week low of $22.36 and 52-week high of $303.82. SKF has been showing support around 23.97 and resistance in the 25.31 range. Technical indicators are Bearish. SKF appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 20 covered call (FFW DT) for a net debit in the $18.53 area. That is also the break even stock price for this trade. This covered call has a 152 day duration, provides 24.61% downside protection and a 7.93% assigned return rate for a 19.05% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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