Velocityshares 3X Long Natural Gas ETN (UGAZ)

[No-Quarter]

As I learned about 'contango' just last week, here is what I can tell you -

Contango is when the futures price of a commodity is higher than the expected spot price of the commodity at the contract maturity.

https://www.khanacademy.org/economics-finance-domain/core-finance/derivative-securities/forward-futures-contracts/v/contango-and-backwardation-review

https://en.wikipedia.org/wiki/Contango

This is illustrated today by the ~.20 cent 'upside down' difference between the next two NatGas futures contracts.

https://www.cmegroup.com/trading/energy/natural-gas/natural-gas.html

UGAZ/DGAZ has already rolled out of Nov and into Dec contracts (scroll to the bottom)

https://www.velocityshares.com/etns/product/ugaz/

NG will follow soon

https://ninjatrader.com/blog/trade-desk-calendar/