Direxion Daily Mid Cap Bull 3X Shares (MWJ) PriceWatch Alert for November 20, 2009
Posted: Friday, November 20, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
Direxion Daily Mid Cap Bull 3X Shares (PCX: MWJ) closed yesterday at $97.25. So far MWJ has hit a 52-week low of $21.24 and 52-week high of $109.87. MWJ has been showing support around 92.03 and resistance in the 104.45 range. Technical indicators are Neutral. MWJ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 87 covered call (MWJ AI) for a net debit in the $83.15 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 14.50% downside protection and a 4.63% assigned return rate for a 29.65% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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