It was $3.30 in Nov last year. It will be more like $3.50 - $3.75 given today's bullish NG price. But, you are right, it may be lower as COAL price is around $2.25.... There is such a huge gap that NG is essentially in trouble for 2nd quarter in terms of demand. March, late winter, helped to push but has taken away the NUKE outage driven demand. I am not so sure if we will have hot summer. I foresee more of volatility but it would be very bearish this quarter 2Q!!!! I'd say sell UNG or UGAZ... Short it as much as you can at this level!