PowerShares DB US Dollar Index Bullish Fund (PCX: UUP) closed yesterday at $23.21. So far UUP has hit a 52-week low of $22.79 and 52-week high of $27.19. UUP has been showing support around 23.09 and resistance in the 23.33 range. Technical indicators are Bearish. UUP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 23 covered call (UUP CW) for a net debit in the $22.11 area. That is also the break even stock price for this trade. This covered call has a 225 day duration, provides 4.74% downside protection and a 4.03% assigned return rate for a 6.53% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]
