UNG, has absolutely gotten killed over the past year. However, it looks like a bottom might be forming.
We are going to use a spread trade to try to catch a bottom. This particular trade involves a 1 X3 back spread. Sold -1 Jun 6 Call for .68 , purchased 3 June 8 Calls for .21 (.63) for the spread. Meaning that the entire spread was put un for .05 credit.
Risk
Worst case scenario
close at June Expiration at 8, which would result in a $195 loss. (200 -.05)
Also, look at volume, which suggests a complete wash out
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