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Potential Ultra Gold Proshares (UGL) Trade Has 3.71% Downside Protection

Oct 12, 2017 (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 Dec 15, 2017 $40 covered call for a net debit in the $38.85 area.<br /> <br /> This trade has a duration of 64 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.71% downside protection. If the stock closes at or above $40 at expiration this trade will return 2.93% or 16.73% (for comparison purposes only). <br /> <br /> UGL closed Oct 11, 2017's trading session at $40.36. In the past year, the stock has hit a 52-week low of $31.67 and 52-week high of $44.22. Ultra Gold Proshares stock has been showing support around $39.57 and resistance in the $40.83 range. Recent technical indicators for the stock are bearish.

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