On June 22 we posted a straddle on UNG . It is currently returning 34%:
UNG is now again badly breaking down and reaching an all-time low:
There are still no immediate compelling reasons to go long on natural gas, particularly on something like UNG which suffers from contango and contract rollovers. Stay away! However, we exited our shorts as the profits were simply too big to ignore. The trade is done.
We will be looking later in July at establishing long positions, which are strictly weather plays (hurricane season).