Trading NG outrights is like sleeping with an old nasty whore with a forest like bush. I prefer trading calendars on this puppy.
As far as I can tell, the most probable next move is to around the 6.7 area over next few trading days. Happy Trading.
http://charts.quote.com/cis/fsspon?...pe=CANDLE&bardensity=medium&headerbackground=(221,221,221)&headerforeground=(102,102,102)&headerdatacolor=(0,1,125)&studyheaderbackground=(221,221,221)&showextendednames=true&STUDY=VOI&STUDY0=1&STUDY1=1&random=231 Isn't OPen Interest reversing down ??? Prices in a downtrend and open interest falling = bullish sign, right ?
hahahh. the calendars tend to trend more smoothly. the x/v moves nicely. (actually 1 xv moves comparable to 1 or 2 minis very often) interestingly enough the x/v was locked down in yesterday's giant covering rally. wonder what that means?
ok guys. This is your opportunity to straddle the market with some near term UNG options. I'm putting my money on a vicious gap down on Monday with this Ingrid's path/strength dissipating(appointing). I sold most of my Sep UNG calls today (hold a few Oct as well), and bought some cheap Sep UNG puts to hedge for this gap. Anyone on board for a 5.25 -> 4.00 retest? [then i'll bull up after october expiration] Just for the record, UNG Sep07 straddle goes for 2.80-2.90 or so right now. 5 trading days to perform. I say we're at 7.50 or 5.50 futures by next Fri easy. (and even possibly 5.00) At $1.00 UNG per .20 of future movement (approximately), that straddle should be worth 5.00.