had a ton of July, Oct, and Jan puts. Kept a few, but just didn't see this going too much further. I hope I'm wrong, but the options plays on these are just brutal. The premiums offer no mercy. I took a beating, but it looked much worse 2 weeks ago. Now I have $$ to fight another day in case the scum decides to get real greedy again. I truly wish you all the very best of luck and I mean that.
Thanks Chart. The numbers just didn't add up otherwise...NG would need to be in mid $3's to make any money. Not a great risk at this juncture. If it spikes big again, maybe I'll jump in...The true issue was never the price of NG, it was the tremendous backwardization and lack of contango that caused the pain. Just hard luck I guess...
Yep, u sold too early.
Technical starts showing bearish
It is clearly on a down trend
Every small wave, the highs get lower and lower, 27.5,27,26.5,26
The lows also get lower and lower
It is time to break 24
Fate- still hope you're right buddy...holding lots of January puts at 18, and July puts around there too if there were to be a miracle. I just don't see UNG as the huge piece of crap it used to be. The darn contango just isn;t there for the past few years,