UltraShort MidCap400 ProShares (MZZ) 11/17/09 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, November 17, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $23.39. So far MZZ has hit a 52-week low of $23.11 and 52-week high of $159.34. MZZ has been showing support around 22.70 and resistance in the 24.20 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 22 covered call (MXS CV) for a net debit in the $20.89 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 10.69% downside protection and a 5.31% assigned return rate for a 15.77% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
CLICK HERE: FREE (MZZ) Stock ReportSee what our analysts have uncovered about (MZZ).