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Friday, September 13, 2019 2:58:28 PM
The Nov contract is currently $2.65/mcf. So a rise to $3 is about a 13% gain.
UGAZ is a 3x gainer, so a 39% gain from the current price of $21.95 would put it around $30.51 (only if it happened quickly before the next rollover).
Beware the NG futures are in seasonal contango (higher prices in further out months). The January futures are already at $2.90 so would have to rise well beyond $3 for a decent gain in UGAZ by then.
Good luck with your trading.
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