UltraShort MidCap400 ProShares (MZZ) 11/19/09 PriceWatch Alert At $20.97 Break Even
Posted: Thursday, November 19, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $23.62. 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 23.21 and resistance in the 24.03 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 $20.97 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 11.22% downside protection and a 4.91% assigned return rate for a 14.82% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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