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Potential Ultra Gold Miners Proshares (GDXX) Trade Has 10.14% Downside Protection

Dec 07, 2018 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Ultra Gold Miners Proshares (<a href="http://www.marketintelligencecenter.com/symbol/GDXX">GDXX</a>). Look at the Apr 18, 2019 $27 covered call for a net debit in the $24.80 area.<br /> <br /> This trade has a duration of 132 days. The break-even point of this trade is the same as the net debit, which gives this trade 10.14% downside protection. If the stock closes at or above $27 at expiration this trade will return 8.87% or 24.52% (for comparison purposes only). <br /> <br /> GDXX closed Dec 6, 2018's trading session at $27.60. In the past year, the stock has hit a 52-week low of $21.89 and 52-week high of $47.81. Ultra Gold Miners Proshares stock has been showing support around $26.85 and resistance in the $28.35 range. Recent technical indicators for the stock are bearish.

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