Short Russell2000 ProShares (RWM) 11/17/09 PriceWatch Alert Bearish Price Movement
Posted: Tuesday, November 17, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Short Russell2000 ProShares (PCX: RWM) closed yesterday at $46.31. So far RWM has hit a 52-week low of $45.06 and 52-week high of $126.12. RWM has been showing support around 45.26 and resistance in the 47.78 range. Technical indicators are Bearish. RWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 45 covered call (RWM AI) for a net debit in the $43.81 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 5.40% downside protection and a 2.72% assigned return rate for a 16.52% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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