Ultra Gold ProShares (UGL) 11/20/09 PriceWatch Alert With 5.67% Downside Protection
Posted: Friday, November 20, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
Ultra Gold ProShares (PCX: UGL) closed yesterday at $49.37. So far UGL has hit a 52-week low of $22.86 and 52-week high of $50.05. UGL has been showing support around 47.64 and resistance in the 50.26 range. Technical indicators are Bullish. UGL appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 49 covered call (ULF AW) for a net debit in the $46.57 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 5.67% downside protection and a 5.22% assigned return rate for a 33.41% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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