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Potential Ultra Gold Proshares (UGL) Trade Has 4.33% Downside Protection

Apr 16, 2018 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on Ultra Gold Proshares (<a href="">UGL</a>). Look at the Jun 15, 2018 $42 covered call for a net debit in the $40.75 area.<br /> <br /> This trade has a duration of 60 days. The break-even point of this trade is the same as the net debit, which gives this trade 4.33% downside protection. If the stock closes at or above $42 at expiration this trade will return 3.04% or 18.50% (for comparison purposes only). <br /> <br /> UGL closed Apr 13, 2018's trading session at $42.60. In the past year, the stock has hit a 52-week low of $35.62 and 52-week high of $44.38. Ultra Gold Proshares stock has been showing support around $42.10 and resistance in the $43.08 range. Recent technical indicators for the stock are bearish.

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