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ProShares UltraShort Oil & Gas Message Board

  • guy1976cr guy1976cr Oct 24, 2008 5:53 PM Flag

    Have a feeling markets will rally on Monday


    You don't want to be in DUG after it rallied hard one day only to reverse its course the next day since the % decline on the following day is much worse $ wise than if you were already oversold and trading low.

    You have to sell DUG on pops and buy it on drops. That is the only way to make money here.

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    • You can play the pops and drops on DUG long and short, or, you can buy as low as the day will allow, sell a covered call $15 above your purchase price, and swing trade.

      Calls at each dollar up the trail to 100 are within pennies of each other, and you can sell a 69 or a 70 or a 61 for about 10%--each carrying large premium because DUG is sol volitile.

      In 8 months, you can reduce your cost basis to near zero.

50.02+0.78(+1.58%)11:53 AMEDT