UGA Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: The upward slope in UGA volatility suggests increased investor interest, hinting at potential price appreciation. High VIX could drive commodities upward.




Bearish Case: Elevated implied volatility in puts suggests protective hedging, indicating downside risk. Geopolitical tensions also contribute to cautious sentiment.




Potential Outcomes: UGA rises on oil demand (70%), stabilizes with geopolitical risk (20%), or declines if macroeconomic factors weigh (10%).




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January 24, 2025


United States Commodity Funds Forecast

UGA        United States Commodity Funds











Correlated Assets

Assets that tend to move strongly with UGA



OXY Forecast + Options Trading Strategies   OXY  Occidental Petroleum (0.86)


DBC Forecast + Options Trading Strategies   DBC  Invesco DB Commodity Index Tracking (0.86)


BNO Forecast + Options Trading Strategies   BNO  United States Commodity Funds LLC - United States Brent Crude Oil (0.84)


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


SLB Forecast + Options Trading Strategies   SLB  Schlumberger (0.81)



Uncorrelated Assets

Assets with little price relationship to UGA



CWH Forecast + Options Trading Strategies   CWH  Camping World (0.01)


SHIP Forecast + Options Trading Strategies   SHIP  Seanergy Maritime (-0.01)


NET Forecast + Options Trading Strategies   NET  Cloudflare (-0.01)


SU Forecast + Options Trading Strategies   SU  Suncor Energy (0.01)


CQP Forecast + Options Trading Strategies   CQP  Cheniere Energy (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against UGA



COMM Forecast + Options Trading Strategies   COMM  CommScope (-0.79)


ICF Forecast + Options Trading Strategies   ICF  BTC iShares Cohen & Steers REIT (-0.79)


CWAN Forecast + Options Trading Strategies   CWAN  Clearwater Analytics Holdings (-0.8)


RDFN Forecast + Options Trading Strategies   RDFN  Redfin (-0.83)


XLP Forecast + Options Trading Strategies   XLP  Consumer Staples Select Sector SPDR (-0.84)









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