Ultra Industrials ProShares (UXI) 11/20/09 PriceWatch Alert Could Hit 26.36% Return
Posted: Friday, November 20, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
Ultra Industrials ProShares (PCX: UXI) closed yesterday at $30.00. So far UXI has hit a 52-week low of $9.48 and 52-week high of $31.48. UXI has been showing support around 28.95 and resistance in the 31.05 range. Technical indicators are Bullish. UXI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 29 covered call (UXI DO) for a net debit in the $26.20 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 12.67% downside protection and a 10.69% assigned return rate for a 26.36% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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