By Dan Darrow

October 17, 2022

Intraday Update: UNG

UNG neither rallied nor sold off last week following Monday's slide into the 200day sma, but it is starting the new week with a 5%+ down open. The heavy action is knocking the Natural Gas ETF below the 200day sma and below the tight 21.50 technical stop early, so the Nov18 $23 - $28 call spread will be closed off the open. We do not want to let the pattern break to the downside as the next major support level is not until the June/July low ( ~18.30).

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication