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HHby u/hamza_h·4dDiscussion

Watching $NATGAS and 2.70 resistance, wondering about IV crush after EIA

Been looking at $NATGAS with the recent bounce off the lows. It's currently hovering around 2.708 and has been poking its head above that 2.70 level a few times today (high was 2.725). It feels like a key resistance point from prior action, and I'm curious if anyone else is seeing the same. My thought is, if it can convincingly break and hold above 2.72, we might see some further upside, perhaps to test 2.80. The risk I'm weighing heavily is a potential sharp reversal if it fails to clear 2.72 and falls back below 2.693, potentially heading back to the recent 2.65 area. Also, with EIA data out tomorrow, I'm thinking about the potential for IV crush on front-month options, regardless of direction. How are you guys playing the volatility around the announcement?

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