United States Natural Gas Fund LP (UNG) $61.69 +1.23%
The United States Natural Gas Fund (UNG) is seeing double its normal trading volume on call buying. The UNG tracks the price of natural gas deivered at the Henry Hub, Louisiana, less expenses. It is trading up 63 cents to $61.57. Natural gas is up 13 cents to $12.99 BTU. In the options market, the UNG January 2009 120 calls are the most actives. An order of 20,000 contracts hit ask side ($1.00) just before noon Eastern time. These call are deep out of the money and the UNG would need to rally 94.9 percent by January options expiration to move in the money. Seems farfetched except for the fact that the fund is up 83.3 percent from a low of $33.58 in late December.
Category: All ETFs
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
