UltraShort MidCap400 ProShares (MZZ) 11/20/09 PriceWatch Alert Targets 9.53% Downside Protection
Posted: Friday, November 20, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
UltraShort MidCap400 ProShares (PCX: MZZ) closed yesterday at $24.65. 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 23.64 and resistance in the 25.36 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 24 covered call (MXS CX) for a net debit in the $22.30 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 9.53% downside protection and a 7.62% assigned return rate for a 23.19% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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