It won’t be long and my 7 year old won’t want to spend every day with me, so I had better take advantage of it. so real quick…
First, I exited my 45 strike KOLD covered put. I am still holding on to my 40 strike covered put as it has not made it above 50% max gain again.
Projected Natgas demand has weakened just a bit with recent weather forecast changes. This means little to me as long as weather stays around normal for this time of year. As long as weather holds around normal and LNG demand stays relatively strong… the market is back on track to swallow up the storage surplus without extreme weather related demand. With my UNL reduction back to 150 shares, I’m very content to be holding where I am with the gain that I have.
As for the UNG trade I made on Wednesday on the pullback. It worked until I moved the stop up and got busy with work. I got stopped out at my entry price of 10.4. I should have left the stop alone, and I would have been ahead 40cents at one point. Oh well, I would have gotten out regardless because gas seemed to move too fast at one point and sure enough it pulled back again. If I were not about to focus on Minecraft, I might jump back into UNG again, for a similar test. Well, except that same 2 hour pattern has broken down… Taking a break for today.
For now I’m going to hold what I have and enjoy the weekend. I hope you do the same.