Short S&P500 ProShares (SH) 11/19/09 PriceWatch Alert With 4.33% Downside Protection
Posted: Thursday, November 19, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Short S&P500 ProShares (PCX: SH) closed yesterday at $53.06. So far SH has hit a 52-week low of $52.87 and 52-week high of $105.44. SH has been showing support around 52.75 and resistance in the 53.57 range. Technical indicators are Bearish. SH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 53 covered call (QRS BA) for a net debit in the $50.76 area. That is also the break even stock price for this trade. This covered call has a 93 day duration, provides 4.33% downside protection and a 4.41% assigned return rate for a 17.32% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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