UltraShort Technology ProShares (REW) 11/18/09 PriceWatch Alert Could Hit 20.75% Return
Posted: Wednesday, November 18, 2009 8:11 AM EDT
By: Market Intelligence Center Staff
UltraShort Technology ProShares (PCX: REW) closed yesterday at $24.07. So far REW has hit a 52-week low of $24.06 and 52-week high of $160.95. REW has been showing support around 23.78 and resistance in the 24.62 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 $20.07 area. That is also the break even stock price for this trade. This covered call has a 213 day duration, provides 16.62% downside protection and a 12.11% assigned return rate for a 20.75% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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