So when Nat Gas hit 10, I instantly bought KOLD shares and sold them a week ago for 250-300% gain.
And I've been thinking going long at this point. Natural gas prices are at an all time low of the past 2 years and has historically almost always stayed above where we are now.
Catalysts coming: Freeport LNG up and running 100% in March or likely even February, and just one tiny winter storm will set off Natural Gas prices. This warm weather in the US and EU is an anomaly and not enough to stop seasonality.
Further Reasons for Natural Gas to go up in February and all through Summer:
–Freeport LNG open by March. Watch out shorts -Technicals way oversold (Zero chance as some claim on reddit and youtube comments of Natural Gas touching $1.44 lows in 2008, that was a recession started by housing, people are using Natural Gas every day now in the US)
-Elliot Wave Theory shows the pullback is almost done and oversold indicators show ready for a bounce, Price will find a bottom soon
-China reopening will lead to more global demand on Natural Gas
Thoughts?
I sold BOIL 5, 5.5, and 6P with 30DTE, and I also shorted $KOLD calls, expiring in 2024 and 2025. My rationale is that KOLD eventually decays.
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