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Ultra Petroleum (UPL) Showing Bearish Technicals With Resistance At $9.81

Jan 03, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Ultra Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/UPL">UPL</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jan 18, 2019 $7.50 covered call for a net debit in the $6.53 area. That is also the break-even stock price for the covered call. This trade will return 14.85%, or 14.26% annualized (for comparison purposes only), in 380 days. This covered call also provides 30.38% downside protection. The current 52-week low is $7.37 and the 52-week high is $13.60. Ultra Petroleum stock has been showing support around $8.85 and resistance in the $9.81 range. The stock closed Jan 2, 2018's trading session at $9.38.A

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