Replies to post #21910 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[researcher59]

UGAZ is almost rolled over into November NG futures.

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.