Energy ETF rally alongside natural gas

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Energy ETF ProShares Ultra Bloomberg Natural Gas (BOIL) is on the rise today, up 5.4% to $54.27 at last glance. Although oil prices are falling as talks about a price cap for Russian oil continue, natural gas prices are rising as investors bet on increased demand during December’s colder weather.

After support solidified at the $30 level, BOIL is climbing the charts, now heading into its seventh day of gains in the last eight. However, the USD 60 level appears to be hindering today’s rally. Year-to-date, security is up 106.8%.

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Despite outnumbering calls on an absolute basis, the stock’s 50-day put/call volume ratio of 0.73 ranks on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX). ) is in the elevated 83rd percentile of its annual range. In other words, this suggests a very healthy appetite for long putts lately.

Furthermore, security Schaeffer’s volatility scorecard (SVS) scores at the highest possible value of 100, meaning that BOIL has surpassed options traders’ volatility expectations over the past year.

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