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Ultra Gold Proshares (UGL) Showing Resistance Near $39.71

May 16, 2018 ( via COMTEX) --

After May 15, 2018aEUR(TM)s trading in Ultra Gold Proshares (<a href="">UGL</a>) the algorithms behind's Artifical Intelligence Center picked out a trade that offers a 2.98% or 16.75% (for comparison purposes only), while providing 3.44% downside protection. The trade is a Jul 20, 2018 covered call at the $39 level for a net debit of about $37.86. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $38.77 and $39.71, respectively.

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