Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Think of it as a backend load not a frt load fee. UGAZ/DGAZ will roll from June to July 20% per day starting 5th trading day. June currently 2.14 July 2.34. Ugaz wont lose and DGAZ wont gain UNTIL the contango unwinds and the price of the fwd month bleeds down to frt month. This happens as contract expiration nears at end of the month. For example ng june stays at 2.15 and July 2.34 starts dropping ugaz will drop by that x3. It can be seen when finviz rolls the chart. See post 23264 for a visual of chart with contango unwind april23 24 gap up that is the contango gap then the unwind. Go back on more day on stockcharts and see their chart roll. So u wont lose when ugaz is rolling to fwd month u lose on the backend. This creates a trading op for dgaz given all else stays the same dgaz will gain 3x the closing of that gap. Last month it was over 50% gain for dgaz.