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Potential Ultra Gold Proshares (UGL) Trade Has 7.17% Downside Protection

Oct 11, 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 Apr 18, 2019 $32 covered call for a net debit in the $30.39 area.<br /> <br /> This trade has a duration of 189 days. The break-even point of this trade is the same as the net debit, which gives this trade 7.17% downside protection. If the stock closes at or above $32 at expiration this trade will return 5.29% or 10.23% (for comparison purposes only). <br /> <br /> UGL closed Oct 10, 2018's trading session at $32.74. In the past year, the stock has hit a 52-week low of $31.92 and 52-week high of $44.38. Ultra Gold Proshares stock has been showing support around $32.29 and resistance in the $33.07 range. Recent technical indicators for the stock are bearish.

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