With the weather starting to cool off in North America, I figure it is about time that the demand for natural gas should start to "heat up" so-to-speak. Surprising enough, on Monday, the very first day I placed the order for, UNG broke above my contingency price of $5.84 on pretty strong volume, although the price only gaped up and then climbed a little higher.
Anyway, as a result, my BTO for 5 contracts of the UNG 20110122 $6 calls was executed at the price of $0.39. Now all I am waiting to see is if it will maintain this upward move towards and above $6. If it doesn't I will have to STC at a loss of since my trailing stop on the price is well below my entry point. But still better to loose a little than to loose the entire position. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
BTO - buy-to-open / bought-to-open
STC - sell-to-close / sold-to-close
UNG - United States Natural Gas Fund ETF
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