IntraAlpha
Create free account Start free

United States 12 Month Natural Gas Fund, LP UNL

i

Market dataready · fetched 2026-11-12T15:48:31.241Z

Delta surfaceAlpaca · derived absolute-delta buckets · 2027-03-19

Calculation methodology

Options historyIV: ThetaData historical Greeks, equal-weight mean of call/put 50-delta IV across the next four listed Friday-cycle expirations, including holiday shifts verified against ThetaData’s market calendar. Missing inputs leave gaps. Skew: equal-weight mean of put minus call IV across those four expirations. IV-implied move history: mean of each expiration’s average call/put IV multiplied by the square root of remaining calendar days divided by 365.25; percentage of spot, not a quoted straddle premium.

History data

PriceAlpaca · sip · 2026-11-12T15:45:00.252038663Z

FundamentalsAlpha Vantage · ready · fetched 2026-11-12T15:48:29.907854+00:00

Share price$5.40
1D-0.2%
$5.39$5.40$5.41$5.42$5.435:30 AM6:30 AM9:00 AM1:00 PMUNL
Sold putSold call

United States 12 Month Natural Gas Fund, LP options

Live interpolated UNL call and put midpoint premiums by absolute delta.United States 12 Month Natural Gas Fund, LP$0.11$0.58$1.05$1.53$2.00$4.28$4.83$5.37$5.92$6.4620Δ25Δ30Δ35Δ40Δ45Δ50Δ55Δ60Δ65Δ70Δ75Δ80Δ20Δ C unavailable: no unambiguous, price-consistent delta bracketC —60Δ P unavailable: no unambiguous, price-consistent delta bracketP —65Δ P unavailable: no unambiguous, price-consistent delta bracketP —70Δ P unavailable: no unambiguous, price-consistent delta bracketP —75Δ P unavailable: no unambiguous, price-consistent delta bracketP —80Δ P unavailable: no unambiguous, price-consistent delta bracketP —OPTION PRICELive UNL spot · $5.40UNL PRICE$0.16$0.20$0.24$0.37$0.56$0.75$0.93$1.12$1.30$1.49$1.68$1.86$0.25$0.25$0.26$0.36$0.47$0.58$0.69$0.79
Puts——
Calls——
Skew——
Implied moveBullish±$1.43
Tilt——
Table
Values and derived Greeks for the plotted delta buckets
DeltaCallsPuts
Pseudo strikeIVB/E movePseudo strikeIVB/E move
20Δ3.9875.2%30.9%
25Δ6.5937.0%25.0%4.5155.6%21.2%
30Δ6.3436.1%21.1%5.0137.1%12.0%
35Δ6.0935.1%17.1%5.1838.3%10.8%
40Δ5.8336.4%14.9%5.3539.5%9.6%
45Δ5.5838.7%13.7%5.5340.7%8.4%
50Δ5.3341.0%12.5%5.7041.8%7.2%
55Δ5.0843.4%11.3%5.8743.0%6.0%
60Δ4.8345.7%10.1%
65Δ4.5848.1%8.9%
70Δ4.3350.4%7.7%
75Δ4.0852.7%6.5%
80Δ3.8355.1%5.3%

20Δ

Calls
Pseudo strike
IV
B/E move
Puts
Pseudo strike
3.98
IV
75.2%
B/E move
30.9%

25Δ

Calls
Pseudo strike
6.59
IV
37.0%
B/E move
25.0%
Puts
Pseudo strike
4.51
IV
55.6%
B/E move
21.2%

30Δ

Calls
Pseudo strike
6.34
IV
36.1%
B/E move
21.1%
Puts
Pseudo strike
5.01
IV
37.1%
B/E move
12.0%

35Δ

Calls
Pseudo strike
6.09
IV
35.1%
B/E move
17.1%
Puts
Pseudo strike
5.18
IV
38.3%
B/E move
10.8%

40Δ

Calls
Pseudo strike
5.83
IV
36.4%
B/E move
14.9%
Puts
Pseudo strike
5.35
IV
39.5%
B/E move
9.6%

45Δ

Calls
Pseudo strike
5.58
IV
38.7%
B/E move
13.7%
Puts
Pseudo strike
5.53
IV
40.7%
B/E move
8.4%

50Δ

Calls
Pseudo strike
5.33
IV
41.0%
B/E move
12.5%
Puts
Pseudo strike
5.70
IV
41.8%
B/E move
7.2%

55Δ

Calls
Pseudo strike
5.08
IV
43.4%
B/E move
11.3%
Puts
Pseudo strike
5.87
IV
43.0%
B/E move
6.0%

60Δ

Calls
Pseudo strike
4.83
IV
45.7%
B/E move
10.1%
Puts
Pseudo strike
IV
B/E move

65Δ

Calls
Pseudo strike
4.58
IV
48.1%
B/E move
8.9%
Puts
Pseudo strike
IV
B/E move

70Δ

Calls
Pseudo strike
4.33
IV
50.4%
B/E move
7.7%
Puts
Pseudo strike
IV
B/E move

75Δ

Calls
Pseudo strike
4.08
IV
52.7%
B/E move
6.5%
Puts
Pseudo strike
IV
B/E move

80Δ

Calls
Pseudo strike
3.83
IV
55.1%
B/E move
5.3%
Puts
Pseudo strike
IV
B/E move

Options history

IV · four-Friday blend81.46%
Daily EOD
UNL75.4%78.6%81.9%2026-10-26: 75.82%2026-10-29: 81.46%Oct 26Oct 29
2 observations2026-10-26 — 2026-10-29
Table
DateIV (%)
75.82%
81.46%