Afternoon Thoughts – Covered call conversion

My positions as of afternoon trading (2PM eastern time) 12/31/2020

I’m still holding long UNG and UNL with 100 shares of each. My account balance has improved drastically. I made a spur of the moment decision to sell a call against my UNG position. I sold a 9 strike with expiration of 1/8/2021. I am selling a 9 vs a 9.5 call for the protection. I am well aware that it will limit my gains drastically, but will also protect my position as well. This call will expire in 8 days, so if gas bobbles any next week, I will scrape some profits from options premium. If gas continues to go up from here, I will make money with UNL and I’ve already locked in a substantial gain with UNG directly. Good Luck

I hope 2021 is better to all of us. Cheers

Oldinvestor

Morning Thoughts – Pile back on

LNG is the only thing keeping gas above $2 right now. Production is down, no doubt, but Res/Commercial demand and Power Burn Demand are down year over year just as much. If not for the strength in LNG demand, this ship would be sunk.

With that said, Asian pricing has shown there must be a great demand for LNG over seas… This should be a sign that exports will continue. European storage also continues to be in better shape surplus wise than the US. As in, Europe is using more of their gas storage.

I’ve mentioned I will be cutting back on posts, except when something arises. Something has arisen.. more opportunity.

I never did sell my last 100 shares of UNL.

My posistion as of pre-market 12/28/2020

I’m going to buy 100 shares of UNG here. That is roughly 33% of my account value. This move down is something of a liquidation. I think it’s a bit overdone. I will probably be wrong and Natgas prices may very well move closer to $2…. Nonetheless; I am a buyer.

New positions as of pre-market 12/28/2020

I’ll hold here and see what this week has in store.

OH!, and this move is mostly weather related. I accept and admit prices probably are not coming back quickly. Now to wait and see what happens next. Good luck

Oldinvestor

oh, and I had mentioned I would dump UNL on a move lower, but the market moved too quickly for me to respond. I will simply hang on from here. I may take a loss on UNL if UNG will swing me a profit soon. I cannot say for sure yet. Just waiting to see what the market does this week.

Morning Thoughts –

I’m not going to disappear, but I’m backing away from NGETF.com. I will still post updates, and I think about it every morning. I think I’m just getting tired of chasing my tail, and I’m finally giving in. I’m not equipped to offer good service so I should stop. I keep a lot going on all the time, and all too often I add too much to my plate.

So I’m going to go back to where I started… Simply sharing my trades for now. Maybe share a screenshot of my example account. Something like this

Example account as of pre-market 12/22/2020

As you can see, I’m still holding 100 shares of UNL. The market is trying to spur this morning. I half expect it to fall on its face. We shall see. I’ll continue to hold long.

IF YOU DO NOT SEE A POST:

It is because I haven’t seen/heard anything significant to share. I will post when I’m even considering making a change to my account. I might try some more covered calls. SLB ended ok. It could have been a much better trade, but it was was managed well enough. I just need to slow down a bit. Sorry that sounds shitty, I hope to always stay brutally honest with myself and everyone around me. The EIA report is expected tomorrow and everyone is expecting a big draw. This could be what has the market up this morning… that and an actual bullish weather forecast. I would be reducing UNG further this morning, had I not gotten stopped out. I’ll continue to hold UNL until there is a definite sign the market has turned to fall. There should be plenty of time to pass along the word. Good Luck

Oldinvestor

As a side note; I’m learning a bit about C programming and embedded systems to build something… hopefully automotive related. I have my eye on a module to add automatic headlights/auto dome light/ auto radio off to an older generation car/truck. It should cost less that $50 with everything included. I’ll include updates if I get anywhere. I’ll be following Microchips guide: https://microchipdeveloper.com/tls2101:start

Morning Thoughts – stopped out of UNG

I was stopped out of UNG at $9.45 within a few cents of the price hitting bottom and turning back around. It could be a mistake to not re-enter the market, but I’ll simply take my losses and hold UNL. As Ben (I believe) with First Enercast, on twitter mentioned. The market is still oversupplied and prices are well above last year’s pricing. Anyone long at this point is anticipating/hoping for that surplus of gas to shrink. Many times it simply takes longer than we want it to.

Fundamentally, prices should be well supported. The lack of production is still the same; it is what will keep my long sided. I had considered a UNG short, but there isn’t any contango to capitalize on such a position right now. I will wait to short UNG. If prices go up from here, I’ll take another look, but for now I’m staying out of UNG and staying in UNL.

My positions as of pre-market 12/18/2020 – UNG stopped out at $9.45

I’ve taken another loss of $21.15; this makes for a total loss of roughly $35 on my $2500 account.

The most recent weather forecast shows more cold coming, so the storage surplus is expected to shrink further. I will continue to hold my 100 shares of UNL. I don’t have much else to say and I have a busy day job ahead. Good luck. I hope the weekend is a good one.

Oldinvestor