BOIL LONG a 3x leverage Natural Gas ETF
Natural Gas prices have finally reversed on the FOREX markets
after significant downtrends from a historical high.
BOIL on the hourly chart has reversed a two-week downtrend
and today has an increasing volume. Ir bounced off the lower
Fibonacci levels and is looking to revert to the mean. Price
was undervalued below the green fair value zone at the VWAP
+/- one standard deviation but is now heading back into it
from the buying pressure.
As a 3x leveraged ETF is prone to more volatility than the
unleveraged UNG counterpart. I will play this with a call
option contract expiring 3/31 striking $4.00 and expecting
at least a 50% return in the upcoming 8 trading days.
The risk here is that this is just a short pullback on the
downtrend but getting in early on a long and watching carefully
is the approach I have taken.
after significant downtrends from a historical high.
BOIL on the hourly chart has reversed a two-week downtrend
and today has an increasing volume. Ir bounced off the lower
Fibonacci levels and is looking to revert to the mean. Price
was undervalued below the green fair value zone at the VWAP
+/- one standard deviation but is now heading back into it
from the buying pressure.
As a 3x leveraged ETF is prone to more volatility than the
unleveraged UNG counterpart. I will play this with a call
option contract expiring 3/31 striking $4.00 and expecting
at least a 50% return in the upcoming 8 trading days.
The risk here is that this is just a short pullback on the
downtrend but getting in early on a long and watching carefully
is the approach I have taken.
Trade active:
Call options up 70% today to open up the week.
Trade active:
I continue to add small partials awaiting the reversal and recovery in the energy sector.
Trade active:
Boil up 10% this past week leveraging natural gas price action.
Trade active:
BOIL jumped again call options up 50% overnight-selling 25% of them but then buying another 10 at the higher premium. This play started almost two months ago- blessed be the patient for they shall make a profit. I will not put anything in the bank because the banking system is on a loose foundation right now.
Trade active:
I am looking at a near-term top of $3.70 Monday then a dip into $3.35 range on Tuesday. Gotta love the volatility and those getting trapped in the swings. Anticipate going short Monday late in the trading day in a partial position to hedge and protect the upside.