The sudden reversal will continue to play out providing an excellent opportunity to make an options play on this one. A simple Buy on the Put at $27 Strike at the opening bell would have up by +.66%. Target underlying price is $24.92.
The is at 98% and the Current Implied is at 57%. Implied ranking is 51.60%. Under the rules of engagement with these percentages, it is a "sell" signal going into the last "leg" of the March 14 (25) option chain. The Delta at $27 Strike is -.561.
HV being near 100% means there is high giving us a directional move thus the underlying will offset the time decay on the option premium.
UNG is currently down -5.60%.
I BOT a PUT at $27 Strike, 1.40 premium and one more PUT contract at $26, 1.17 premium. The $27 Strike chart shows a resistance at 1.88; but a "sweet spot" to come, looking at 2.72 to take profit before March expiration.