UNG -- LOOKING TO ADD LONG AT RANGE LOW FOR SEASONALITY PLAY
It is entirely possible that I may have jumped the gun slightly with my UNG seasonality play, as prices continue to hover around the range low that has been in place since late April.
However, this may provide an additional opportunity to add to my Jan expiration 12/13 debit spread position at more favorable prices. I am, though, going to continue to watch price here, as historically October is the month in which nat gas supply peaks, so we could continue to see nat gas weakness throughout October, which leaves me quite a bit of time to consider adding to the position. That being said, I don't want to wait too long; UNG price has a habit of "popping" from current levels to 14 in very short order ... .
However, this may provide an additional opportunity to add to my Jan expiration 12/13 debit spread position at more favorable prices. I am, though, going to continue to watch price here, as historically October is the month in which nat gas supply peaks, so we could continue to see nat gas weakness throughout October, which leaves me quite a bit of time to consider adding to the position. That being said, I don't want to wait too long; UNG price has a habit of "popping" from current levels to 14 in very short order ... .
