UltraShort Oil & Gas ProShares (DUG) 11/4/09 PriceWatch Alert Bearish Price Movement
Posted: Wednesday, November 04, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
UltraShort Oil & Gas ProShares (PCX: DUG) closed yesterday at $13.14. 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 12.44 and resistance in the 14.28 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 $10.14 area. That is also the break even stock price for this trade. This covered call has a 164 day duration, provides 22.83% downside protection and an 8.48% assigned return rate for an 18.88% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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