Short QQQ ProShares (PSQ) 11/19/09 PriceWatch Alert Up To 3.53% Downside Protection
Posted: Thursday, November 19, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Short QQQ ProShares (PCX: PSQ) closed yesterday at $45.31. So far PSQ has hit a 52-week low of $45.00 and 52-week high of $94.83. PSQ has been showing support around 44.93 and resistance in the 45.79 range. Technical indicators are Bearish. PSQ 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 (PSQ AI) for a net debit in the $43.71 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 3.53% downside protection and a 2.95% assigned return rate for an 18.57% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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