United States Natural Gas... (UNG)
United States Natural Gas Fund LP Max Pain By Strike
UNG trades at $12.83, 6.9% above the near-term max pain of $12 expiring Sep 3, 2025 (4 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($11-$15), signaling increased put positioning or downside protection. Key magnetic zone at 13 where 7 expirations converge.
United States Natural Gas Fund LP Max Pain By Expiry
Max pain for UNG shows a downward trend from 15 to 11, indicating bearish sentiment or hedging activity. The 32% spread signals divergent expectations across timeframes. Levels distributed around 12.83. Strong magnetic level at 13 (7 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Sep 3, 2025 | 12 | -0.83 (-6.47%) |
| Sep 5, 2025 | 12.5 | -0.33 (-2.57%) |
| Sep 10, 2025 | 11.5 | -1.33 (-10.37%) |
| Sep 12, 2025 | 12.5 | -0.33 (-2.57%) |
| Sep 19, 2025 | 13 | 0.17 (1.33%) |
| Sep 26, 2025 | 12.5 | -0.33 (-2.57%) |
| Oct 3, 2025 | 12.5 | -0.33 (-2.57%) |
| Oct 10, 2025 | 12 | -0.83 (-6.47%) |
| Oct 17, 2025 | 13 | 0.17 (1.33%) |
| Jan 16, 2026 | 13 | 0.17 (1.33%) |
| Apr 17, 2026 | 11 | -1.83 (-14.26%) |
| Jan 15, 2027 | 15 | 2.17 (16.91%) |