United States 12 Month Na... (UNL)
United States 12 Month Natural Gas Fund LP Max Pain By Strike
UNL trades at $7.81, 2.4% below the near-term max pain of $8 expiring Sep 19, 2025 (15 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($7-$8), signaling increased put positioning or downside protection. Key magnetic zone at 8 where 3 expirations converge.
United States 12 Month Natural Gas Fund LP Max Pain By Expiry
Max pain for UNL shows a downward trend from 8 to 7, indicating bearish sentiment or hedging activity. The 13% spread signals divergent expectations across timeframes. Most levels above 7.81 could support dips. Strong magnetic level at 8 (3 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 19, 2025 | 8 | 0.19 (2.43%) |
| Oct 17, 2025 | 7 | -0.81 (-10.37%) |
| Dec 19, 2025 | 8 | 0.19 (2.43%) |
| Mar 20, 2026 | 8 | 0.19 (2.43%) |