UltraShort Oil & Gas ProShares (DUG) 11/16/09 PriceWatch Alert Support At Around $12.22
Posted: Monday, November 16, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
UltraShort Oil & Gas ProShares (PCX: DUG) ended the last trading session at $12.72. 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 12.22 and resistance in the 13.32 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 $10.12 area. That is also the break even stock price for this trade. This covered call has a 152 day duration, provides 20.44% downside protection and an 8.70% assigned return rate for a 20.88% annualized return rate (comparison purposes only). [ABR-Seven Summits Research]
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