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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: rayrohn who wrote (8975)10/15/2008 7:09:02 AM
From: skinowski  Read Replies (1) of 41419
 
UNG - November $31 call strike. More than 36,700 contracts traded in that strike price against existing open interest of 823 lots, indicating fresh positions were initiated

Thanks for posting this. With an extremely low put / cal ratio UNG at 31 will have heavy resistance. Of course, if thay cannot keep the price down, there may be a big short squeeze.

COT on NG is skewed to an extreme, with traders being short and commercials long, so the odds are in favor of a recovery. However, Commercials can be very patient, and can wait until after the November expiry.... g/ng. Gotto watch UNG 31. Interesting situation.
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