Hi CeeJay,
Did you follow Ng today ??? I have mixed views.
Looks like consensus for tomorrow's withdrawal is around -174 Bcf.
I think I will just leave it alone.
Looking at "Max. Damage" on the H options that expire Friday if price stays above 2.5 not much happens on the Put side. A drop below 2.6 will kill off a fair number of calls !!!
So, I suggest NgH will fall of to a tad below 2.6 for Friday.
NgJ will do what it does ..... consistent with H getting into the above mentioned range.
So ...., then comes next week. I don't see the weather getting much colder, nor do I see much in the way of production cut backs. At the moment, I think this market has more room to go down than up, but what I think doesn't mean a thing to PRICE !!!!!
And, I still think there is some room for more storage "fiddling" ......
Good Luck,
Lee