Bear Put Spreads Below the 200-Day
Bear Put Spread41 trades pass on UNG
- Return on risk
- 37.0% to 751.1%
- Probability of profit
- 34.4% to 63.2%
United States Natural Gas Fund, LP · ETFETF
As of the close on . In the app, data is refreshed intraday.
UNG closed at $10.79 on Sep 28, 2026 with 30-day implied volatility of 45.0%. That is near the bottom of its one-year range (IV rank 18), so options on UNG are cheap compared with its own recent history. Measured by IV percentile, IV is higher than 30% of the past year's readings. Options expiring Oct 30 (32 days out) price a one standard deviation move of about $1.47, or 13.6%.
The price is above its 50-day moving average (+4.9%) but still below its 200-day (-5.4%). It is 36.2% below its 52-week high and 12.0% above its 52-week low. The 14-day RSI of 54.2 is between 30 and 70, neither overbought nor oversold. The 14-day average true range is $0.37, about 3.4% of the price, a measure of a typical day's range.
Option volume at the close (26K contracts) was 0.8x its average, quieter than usual. A negative beta of -0.62 means UNG has tended to move against the broad market. 3 of our preset screens found trades on UNG at the close, led by Bear Put Spreads Below the 200-Day with 41 trades.
Expected move = price x at-the-money IV x the square root of (days to expiration / 365), a one standard deviation range. The straddle is the at-the-money call plus put, the market's own price for a move. Compare expected moves across stocks.
| Expiration | IV | Expected move | 1 SD range | Straddle |
|---|---|---|---|---|
| Sep 30, 20262 days | 51.2% | ±$0.41 (3.8%) | $10.38 to $11.20 | $0.37 |
| Oct 30, 202632 days | 45.9% | ±$1.47 (13.6%) | $9.32 to $12.26 | $1.19 |
| Nov 20, 202653 days | 45.8% | ±$1.88 (17.5%) | $8.91 to $12.67 | $1.52 |
| Jan 15, 2027109 days | 55.8% | ±$3.29 (30.5%) | $7.50 to $14.08 | $2.63 |
Each expiration has its own implied volatility, and short-dated IV reacts more to near-term events, so the nearest expiration can differ a lot from the 30-day figure.
Counts and ranges for UNG from our preset scans at the last close. Open a preset in the app to see each trade with its strikes, prices, and risk, refreshed intraday. Income strategies show annualized return; the rest show return on risk.
41 trades pass on UNG
22 trades pass on UNG
5 trades pass on UNG
Market data as of the prior close, for information and education only. Not investment advice. Options involve substantial risk and are not suitable for every investor. See our Terms of Service.