UltraShort Oil & Gas ProShares (DUG) 10/29/09 PriceWatch Alert Targets 24.10% Downside Protection
Posted: Thursday, October 29, 2009 8:38 AM EDT
By: Market Intelligence Center Staff
UltraShort Oil & Gas ProShares (PCX: DUG) closed yesterday at $13.28. So far DUG has hit a 52-week low of $11.54 and 52-week high of $50.18. DUG has been showing support around 12.37 and resistance in the 13.81 range. Technical indicators are Bearish. DUG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 11 covered call (DZG DK) for a net debit in the $10.08 area. That is also the break even stock price for this trade. This covered call has a 170 day duration, provides 24.10% downside protection and a 9.13% assigned return rate for a 19.60% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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