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Ultra Gold Proshares (UGL) Trading Near $42.32 Resistance Level

Feb 14, 2018 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Ultra Gold Proshares (<a href="http://www.marketintelligencecenter.com/symbol/UGL">UGL</a>). Look at the Mar 16, 2018 $42 covered call for a net debit in the $40.82 area.<br /> <br /> This trade has a duration of 30 days. The break-even point of this trade is the same as the net debit, which gives this trade 2.85% downside protection. If the stock closes at or above $42 at expiration this trade will return 2.86% or 34.86% (for comparison purposes only). <br /> <br /> UGL closed Feb 13, 2018's trading session at $42.02. In the past year, the stock has hit a 52-week low of $35.47 and 52-week high of $44.38. Ultra Gold Proshares stock has been showing support around $41.52 and resistance in the $42.32 range. Recent technical indicators for the stock are bearish.

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