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Position Update - (UNG)
Second Chance to buy the United States Natural Gas Fund (UNG) July, 2014 $23 puts (not a new position ? only for those who missed the first time)
Strategy Update
2-4-2014
expiration date: July 18, 2014
Portfolio weighting: 5%
Number of contracts:? 30
Those who missed their chance to buy the United States Natural Gas Fund (UNG) July, 2014 $23 puts last week now get a second bite at the apple. Another winter storm has taken the puts all the way down to $1.50 this morning.
Warm weather will return and the (UNG) will take another dive. Supply will catch up with demand, and we have six months to wait it out with this position. Expect a lot of volatility. This is why they call this contract the ?widow maker.?
