UltraShort Oil & Gas ProShares (DUG) 11/6/09 PriceWatch Alert Shows Bearish Technicals

Posted: Friday, November 06, 2009 8:39 AM EDT

UltraShort Oil & Gas ProShares (PCX: DUG) closed yesterday at $12.79. 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 12.43 and resistance in the 13.39 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 $9.99 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 21.89% downside protection and a 10.11% assigned return rate for a 22.78% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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