Trade - 7/29/09 - UNG

STO (2) Naked Put - UNG (US NATURAL GAS FUND LP) Aug 09 @ $12 for $0.55 each. Net Premium $109.
I am going to add to my position on UNG today on a down day. This gives me downside protection to $11.45 ($12 - $0.55) for a 3 week period. This is a 4% return for a short period. I still feel good at this level regardless of supply data. If we happen to get a pull back below $12 on UNG I will look to add some $11 NPs.