Nat Gas futures up again… seems clear we are in a sustained bounce/rally, even as other energy still wavers. Not sure if the bottom is in, but if the upticks continue, and with the magnified effect on 2x ETF’s, $KOLD is set to collapse back below 100 with in a couple weeks. I am #ReverseRoll my way out of short puts, able to still sell calls above 200 and even 300 before they die a slow death. I was trying to get out of my 150 put yesterday but thought maybe we’d get a small pullback in Gas today. No such luck, and now KOLD is opening 12 points lower. No more waiting… closing 150 and 140 puts today. Fortunately, ITM calls, including the 150 CALL I sold for 64.00, are coming in nicely.
Options Bistro 