Valor View - NG - 06/15

Valor View - 06/13

Valor View - 06/12

Valor View - 06/08

Valor View - NG - 06/07

Valor View - NG - 06/05

* Market was mixed today. Jul-Aug puts took a big hit in the morning, possibly with some heat showing up in the models * However, with LNG dropping further, production not backing off and weak cash, calls got hit as well, but he magnitude was larger on the puts * The 10+ c

Valor View - NG - 06/01

Valor View - NG - 05/31

Natural Gas – Tale of two seasons (Bearish Summer/Bullish Winter)

Feb 15, 2020 Natural Gas – Tale of two seasons (Bearish Summer/Bullish Winter) * Natural gas vol curve is behaving as if both scenarios where Summer20 ends up closer to or greater than 4Tcf and Winter20-21 ends closer to or less than 1Tcf are likely leading to a bearish Summer20 and

Valor View – NG – Mar 3 – Volatility continues – F/G, J/V CSO discussion

Mar 3, 2020 Valor View – NG – Mar 3 – Volatility continues – F/G, J/V CSO discussion * Volatility continues in the natural gas market both in futures and implied vol * There was a small expectation that implieds will taper off with the rally and it was true till early morning, but

Valor View – Natural gas vol & skew making large moves and point to lower futures in the front

May 31, 2023 Valor View – Natural gas vol & skew making large moves and point to lower futures in the front * – Natural gas option vol has been tricky lately to say the least * – Option Vol in equities and crude has fallen but in natural gas it remains elevated * – As shown

Valor View - NG - 05/25

* Feels like Macro selling day. We mentioned in yesterday's note that CL felt weak in the face of one of the most bullish EIA withdrawals and threats of ouchie to short sellers from the Saudis * Macros seem to be liquidating their inflation trades and natty got caught up

Valor View - 05/24

Valor View - NG - 05/22

100

Valor View - WTI Futures go negative on 4.20 - A deep dive

100

Valor View - WTI Futures go negative on 4.20 - A deep dive

Valor View - WTI Futures go negative on 4.20 - A deep dive

WTI Futures

Valor View – WTI Futures go negative on 4.20 – A deep dive

Valor View

Paid-members only

Valor View - Natural gas vol & skew making large moves and point to lower futures in the front

Paid-members only

100

Valor View - Natural gas vol & skew making large moves and point to lower futures in the front

Paid-members only

100

Valor View - Natural gas vol & skew making large moves and point to lower futures in the front

Valor View – NG – Natural gas bounces back

Mar 3, 2020 Valor View – NG – Natural gas bounces back * Natural gas went down along with oil and equities on Friday and early morning today * Vol jumped to new highs at the beginning of the day as it seemed at one point that natural gas prices might fall below $1.

Paid-members only

Valor View - NG - Vol at new highs

Paid-members only

100

Valor View - NG - Vol at new highs

Paid-members only

100

Valor View - NG - Vol at new highs