Opening (IRA): UNG March 21st 18/June 20th 35 LPD*

... for a 15.04 debit.

Comments: Fading this natural gas move here with a long put diagonal, buying the back month -90 delta put and selling the front month 25. The 35 long put is shown at the 21 strike due to the 35 being off the chart.

Metrics:

Max Profit: 1.96
Buying Power Effect: 15.04
ROC at Max: 13.03%
Break Even: 19.96 relative to 19.68 spot

Will generally look to take profit at 110% of what I put it on for, roll out the short put on approaching worthless.

* -- Long put diagonal.