Sold the June 8 calls on the UNG (Natural Gas ETF)…just saw the email notice in my email box…at 25 cents apiece…it was at 20 cents this morning when I set the Ask…
These UNG calls were only 13 cents yesterday…they doubled overnight!!!
The bad news is I actually lost a little money on them…now I see I could’ve made an exit at a slight profit if I could have traded these in real time as UNG closed right at 8 bucks and the calls closed about 30 cents! Time erosion reduced their value quite a bit as I held the 8s longer than I had anticipated.
Still, it looked like they might expire worthless just a couple days ago…so I’m pleased enough! I sold some UNG June 7 calls about two weeks ago for a quick profit…I bought most of these calls when UNG was down in the $6s…a nice 25% rally in the last few weeks for this ETF!