The thing that is surprising me, is that as Z rallies, the Z/F spread is widening significantly. I would expect the entire/first 4 months to rally, with H/J widening, but H/J only widened 1.4c on a 13c Z move yesterday.
One can get pretty wide in /NG now, I put the below on a couple days ago and it's doing good so far. I actually only have about 1k profit, they misquote the prices at night badly with /NG. I am long 2 futures with 3 atm calls against them and short two puts and one call. My BE is $2.43 and $3.60 though a sudden move to either would sink me.
Does anyone know how to chart the implied volatility of futures like /NG? I use the indexes GVX & OIV for /GC and /CL but do not have a solution for /NG and other less traded futures.
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Does anyone have any hedged option configurations like I've shown above they use? The above is kind of a mish mash but I've found a hedged strangle pretty decent. I make it by selling three 16 delta put and calls and then buying a call and put closer to atm so where I still get decent credit. This expands the range of a normal 16 delta strangle a bit, perhaps good in low IV times. It's basically two ratio credit spreads.
One can also get wide in /ZB now, I'm going to sell a strangle on it tomorrow.
Another above average build (highest in last 10 years) again today, meaning gas in storage sets yet another all time high.
Storage Futures for next week on ICE are 1/3 implying yet another build. While a build of 2 wouldn't be out of the normal for 3rd week in November, it will mean that gas in storage will set yet another all time high next week as well.