NAT GAS THREAD - stocks futures chat - Page 11

Nice bounce off/near this month's POC (2.448)

2.4 was April and March's buyers auction that never came to fruition

seems to be valid for the moment. 

Still golden above 2.25 (this month's buyers auction)

im thinking of jumping on this Nat gas ride. gotta pick my spots but i think it heads up to 3.00 without much trouble

actually a long trade right here should be an easy move to 2.68 into tomorrow

monthly dynamic POC at 2.5

weekly chart running into resistance (bottom chart)

I'm tailing natty gas futures via UNG ..... been in UNG 22.00's June calls, but I'm having a hard time determining whether to hold here.  There's been clearly a lot of supply at these levels over the last 4-5 days. Not surprising given Ichi's monthly chart.  I know that on my daily a new POC has formed up here in the 19's (resistance) when before it looked to have broken POC at the 17.00's. The only thing that's kept me hanging on is how big they've bought up the dips.  Alas, these calls decayed quite a bit over these first 3 days of the new options period.  Amazing to me because I was up 45% on these calls on Friday, but right now I'm only up 10%.

Quote:

Originally Posted by kevin1612 

still sems like a decent play...its pullbacks have been minor and short lived...again today...down early and coming back as day wears on

That's what has gotten confusing.  They have violently bought the dips, but they have not done well to hold any of the highs of those "dip buying" days in the last week.  The other thing is the decay on these calls.   I get a sense that there is some serious supply in this area.  Quite the battle.

Volatility shook me out today.  This is one crazy cookie right now.  There's a lot of supply but there's somebody willing to buy it up on the big dips.

Quote:

Originally Posted by kevin1612 


they are good in my book whoever they are

I may re-enter.  Man I am really not used to holding a position that long.  That was over 1.5 weeks.  This morning UNG had a nasty dump to below 19.00 and my June 22.00 calls got ugly really quick.  I think I bought too far out of the price.  If I go back I'm gonna snag 20's or 21's.

Quote:

Originally Posted by kevin1612 

wow musta seemed like an eternity for you

You have no idea.  My average trade lasts me maybe 10mins.  LOL