United States Natural Gas Fund (NYSE: UNG) closed at $11.75. The investment objective of UNG is for the changes in percentage terms of the unit's net asset value to reflect the changes in percentage terms of the price of natural gas delivered at the Henry Hub, Louisiana. Natural Gas futures are recently down .45% to 3.743 according to Bloomberg. UNG options were active on September 16 with of 222,361 contracts trading. UNG October option implied volatility of 66 is near its 26-week average according to Track Data.
Financial Select Sector (XLF) overall volatility at 39; 26-week average is 50 according to Track Data.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
9-17-2009 @ 8:54AM
Beltway Greg said...
Hilarious! Why? I stated dipping my toe into this seemingly worthless UNG when I stated reading that:
A. gas prices were at a seven year low
B. UNG was overvalued and was trading at a premium and would never recover
C. We had run out of storage space for natural gas.
Remember the lesson we learned last spring when:
See above and just replace natural gas with oil.
Give me a commodity that has daily utility and give me a multi-year low and give me the money.
PS. Oil rises every year from March to Aug. (I think 25 of the last 26 years) Don't tell anyone. I just want to keep this our little secret.