UltraShort Technology ProShares (REW) 11/17/09 PriceWatch Alert Could Hit 18.76% Return
Posted: Tuesday, November 17, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $24.37. So far REW has hit a 52-week low of $24.21 and 52-week high of $160.95. REW has been showing support around 23.89 and resistance in the 25.01 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 $20.27 area. That is also the break even stock price for this trade. This covered call has a 214 day duration, provides 16.82% downside protection and an 11.00% assigned return rate for an 18.76% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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