UNG Follow Up

I liked the idea of April Calls in UNG because it works for short term momentum like a 3+% move today in which you can extract a nice double digit return in two days and let the trade work longer term.

The way I see it, a 3+% move this early is good momentum that you don't get often this fast with something like UNG so it's worth taking some of that momentum money, however I still like it longer term. Ultimately though my sites are fixed on UNG as a long term long position and I'd rather not have leverage except in a couple of key areas where it makes sense to take advantage of momentum moves.

Here's the return...

With a fill at $1.08 that's almost a 25% return in about 2 days.

I'll cover UNG's longer term prospects, but for now, that bit of momentum was hard to ignore, once you start losing it, you start losing that gain.