Trade Of The Week: UNG
There’s been a lot of unusual action in United States Natural Gas (UNG) recently.
The natural gas ETF was down 6.5% one-day last week but has gained over 100% for the year due to global supply shortages.
On the big down day, 58% of the 46,000 options traded were calls, which suggests some traders are looking for a bounce back.
One interesting trade from the day was a block of covered calls, where the trader purchased the stock while simultaneously selling out-of-the-money calls that expire in February of 2022.
Video Length: 00:05:19
Disclaimer: Information contained in this email and websites maintained by Investors Alley Corp. ("Investors Alley") are provided for educational purposes only and are neither an offer ...
more
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
