Pay No Heed

Oracle Text

Prevent all damage a source of your choice would deal this turn.

Card Rulings

7/1/2013 Pay No Heed doesn’t target anything. You can choose a source with hexproof, for example. You choose the damage source as Pay No Heed resolves.
7/1/2013 If the chosen source is a permanent spell, damage dealt later in the turn by the permanent it becomes will also be prevented.