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.

Suggested Options:
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

Annotated Chart:

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