I purchases 1000 shares of UNG today at $6 and immediately sold the December 18 $6 strikes for about $0.29 to rake in about $280. It wasn’t a big trade and more of an experiment to see where UNG might flow this winter. Ultimately, I like natural gas and we’re at 52 week lows on UNG so it made sense. All other ETFs that I like to write covered calls on are near 52 week highs and that doesn’t bode well with PIIGS falling apart at the moment.
We’ll see what happens in a few weeks!
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