Ultra Oil & Gas ProShares (DIG) 11/3/09 PriceWatch Alert Technicals Showing Bullish

Posted: Tuesday, November 03, 2009 8:23 AM EDT

Ultra Oil & Gas ProShares (PCX: DIG) closed yesterday at $33.41. So far DIG has hit a 52-week low of $16.93 and 52-week high of $39.61. DIG has been showing support around 31.32 and resistance in the 35.52 range. Technical indicators are Bullish. DIG appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 30 covered call (DPB CD) for a net debit in the $26.81 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 19.75% downside protection and an 11.90% assigned return rate for a 31.70% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]

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