He confirmed that there are 1B shares ready to go to release to various parties He confirmed that the only reason for the ~1.00 premium is the shortage of shares. So when they are released, the premium will be gone. That is ~15% gain in the next couple of weeks or month. He said they did not plan a press release so the drop will happen suddenly on day.
Also, it will take some time for the contango to go away, during that time UNG will have to lag the NG market. So I shorted UNG shares (easy to do on IB but not sure on other trading services from some reports. I am thinking of buying some NG to protect the short of UNG from any loss (UNG gain). Then buy back the short UNG when the premium is gone (and might also wait until the contango is gone as well). Hopefully it will be possible to buy into low NG prices when contagno is back to normal levels without missing the low NG prices.