UNG Spread Closed

I thought UNG had a chance to form a bottom.  I put on a   July 6 / 8  call back spread for a credit.   The basis for my trade changed when UNG did a reverse split.    I sold the 8 calls (which would require 32 strike  and rode my 6 call (24 strike for  a few days as it collapsed.    Today I closed the trade for basically even money.  -$2.00 with commission.

This trade emphases why spreads can be a great bottom fishing tool.  I turned out to be very wrong, and everything went against me.  However, because my position was  a spread trade I end up okay.   

I closed the position here because it was no longer worth the time monitoring as my upside was only $16 

UNG, Bottom Fishing

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)