Replies to post #11108 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[Smallville]

Largest number of short contracts ever. Minimal covering today. When the contracts are covered look for a big jump up.

[griff100]

because UGAZ doesn't base off of natural gas prices.

[DrContango]

Anyone know why ugaz only up 8% when nat gas up 5.4% ? Shouldnt it be up 16% ? $4.17 range ?

The monthly roll to second month futures ended this week. UGAZ is now hypothetically (remember this is an ETN) 100% invested in January futures.

UGAZ trades at a small fluctuating premium/discount to its indicative value.

Yesterday ^UGAZ-IV closed at 3.81, up .34 or 9.94%.

Yesterday, the Jan futures closed up 3.313%.. Treble that number and you get 9.94%

Math rocks,

Doc