I’m going to purchase 1 share of UNG and I will add on any dip. I feel I need to pull the trigger and am having trouble doing so. $12.42 is arguably a bit high priced for UNG right now, but If I never get started, winter will fly by and I’ll have traded nothing. I’m going to revert to an old habit, but will be super conservative about it. So 1 share for now.
It appears SLB is about to be stopped out, 30 shares anyway. I will hold the covered call and consider rolling further down. SLB premiums are nice, just not high enough to keep up with the fall in the underlying. Oil is down, probably because of Libya increasing exports, Iraq “needing” to bring more exports online, OPEC potentially losing its grip, lack of planes in the air, and some other drama and geopolitics, oh, and the possiblility that Biden will win and supposedly ensure the demise of the oil industry. haaaa, as if. I am not in the know, but who (in the oilfield) actually gets government subsidies these days? I recall Solar and Wind getting them all. Oh, and to support the solar and wind industry, and make them feasible, you need oil for the mining and manufacturing of said wind and solar… Anyway
Gas is horrendously under supplied right now. By like 9Bcf/day… roughly… I hope UNG dips so I can buy a second share, or a third. Maybe in a week or so. If UNG shoots past $13 this week, I’ll probably sell out. Let’s get this ball rolling again. Good Luck