Posts
Natural gas prices have risen significantly since yesterday. In even more good news for UNG holders, backwardation has increased as well. Contango is UNG's biggest enemy, there is no contango in the first 3 moths futures. As of 8AM, a small contango only appears in may contracts:
UNG rose 2.58% yesterday and is currently up in pre-market. UNG is about to make a higher high:
(please click to enlarge)
This looks very bullish and good for UNG.
Disclosure: I am a holder of UNG 6 Calls for today.
Update 10AM: Calls sold for 0.45 (bought for 0.15). I no longer hold any UNG.
No comments:
Post a Comment