Short Russell2000 ProShares (RWM) 11/20/09 PriceWatch Alert With Support Around $46.30
Posted: Friday, November 20, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
Short Russell2000 ProShares (PCX: RWM) closed yesterday at $47.56. So far RWM has hit a 52-week low of $45.06 and 52-week high of $126.12. RWM has been showing support around 46.30 and resistance in the 48.54 range. Technical indicators are Bearish. RWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 45 covered call (RWM DI) for a net debit in the $43.16 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 9.25% downside protection and a 4.26% assigned return rate for a 10.51% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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