NEW DIRECTIONAL CALL PLAYS
Ultra Oil & Gas ProShares - DIG - close: 37.89 change: -0.22 stop 32.90
Why We Like It:
I believe oil will remain strong but the energy sector could see some profit taking first. Let's take advantage of any short-term dip and buy calls on the DIG at $35.00. If triggered at $35.10 our first target is $39.50. Our second target is $43.50.
FYI: The DIG is an ultra-long ETF so it should have twice the volatility as a normal sector ETF.
My time frame is several weeks so I'm suggesting the December calls. My preference is the $35 strike. Strikes are available at $1.00 increments.
BUY CALL DEC 35.00 DPB-LG open interest=1242 current ask $4.70
Picked on October xx at $ xx.xx <-- TRIGGER @ 35.00
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume = 4.3 million
Listed on October 17, 2009