UltraShort MidCap400 ProShares (MZZ) 11/18/09 PriceWatch Alert With 10.89% Downside Protection
Posted: Wednesday, November 18, 2009 8:10 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $23.42. 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 23.15 and resistance in the 23.87 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 Jun '10 23 covered call (MXS FW) for a net debit in the $20.87 area. That is also the break even stock price for this trade. This covered call has a 213 day duration, provides 10.89% downside protection and a 10.21% assigned return rate for a 17.49% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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