United States Gasoline (AMEX:UGA) closed Friday's up-and-down trading session at $52.42. In the past year, the ETF has hit a 52-week low of $30.00 and 52-week high of $56.00. United States Gasoline (UGA) has been showing support around $51.56 and resistance in the $52.96 range. Technical indicators for the ETF are Bullish. For a hedged play on United States Gasoline (UGA) , look at the Oct '11 $52.00 covered call for a net debit in the $49.22 area. That is also the break-even price for this trade. This covered call has a duration of 82 days, provides 6.10% downside protection and an assigned return rate of 5.65% for an annualized return rate of 25.14% (for comparison purposes only). United States Gasoline (UGA) does not pay a distribution at this time. [ATU-Seven Summits Research]
Source:
No comments:
Post a Comment