UGA Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: UGA's implied volatility is high, and historical returns suggest potential for substantial gains, especially with increased call volume indicating bullish sentiment.




Bearish Case: UGA's recent price decline and flat term structure indicate potential downside. High volatility in puts and geopolitical risks suggest caution.




Potential Outcomes:
  • Price increase driven by demand recovery: 55% chance.
  • Stabilization around current prices: 30% chance.
  • Further decline due to geopolitical factors: 15% chance.



April 22, 2025


United States Commodity Funds Forecast

UGA        United States Commodity Funds











Correlated Assets

Assets that tend to move strongly with UGA



OVV Forecast + Options Trading Strategies   OVV  Ovintiv (0.83)


PTEN Forecast + Options Trading Strategies   PTEN  Patterson-UTI Energy (0.82)


NFE Forecast + Options Trading Strategies   NFE  New Fortress Energy (0.77)


OXY Forecast + Options Trading Strategies   OXY  Occidental Petroleum (0.7)


WBA Forecast + Options Trading Strategies   WBA  Walgreens Boots Alliance (0.68)



Uncorrelated Assets

Assets with little price relationship to UGA



PHG Forecast + Options Trading Strategies   PHG  Koninklijke Philips (0.01)


BHC Forecast + Options Trading Strategies   BHC  Bausch Health Companies (-0.01)


FLNC Forecast + Options Trading Strategies   FLNC  Fluence Energy (0.01)


WD Forecast + Options Trading Strategies   WD  Walker & Dunlop (-0.01)


BB Forecast + Options Trading Strategies   BB  BlackBerry (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against UGA



FNF Forecast + Options Trading Strategies   FNF  Fidelity National Financial (-0.74)


DUK Forecast + Options Trading Strategies   DUK  Duke Energy (-0.74)


ADC Forecast + Options Trading Strategies   ADC  Agree Realty (-0.77)


CB Forecast + Options Trading Strategies   CB  Chubb (-0.78)


SCO Forecast + Options Trading Strategies   SCO  ProShares UltraShort Bloomberg Crude Oil (-0.91)









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