Thursday, April 15, 2010

Natural Gas Storage Pierces Top of 5 Year Average Channel, UNG Drops, Again

Natural gas inventory reports today showed an injection of 87Bcf, bringing ther total in storage to 1.67Tcf. This number managed to be higher than last year's very high 1.69Tcf.

The curve has again pierced the top of the 5 year average channel:

(please click to enlarge)

UNG responded by dropping 4% (shall we say 'another' 4%?):

The straddles we posted yesteday for April returned either 0% or +25% (so far) for those who managed to sell the puts at 0.05 or 0.04:

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