Trader Makes Lottery-Ticket Bet on U.S. Natural Gas Doubling to $10
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A trader is making a big bet on the odds of U.S. natural gas futures doubling by summer.
The trader bought an unusually big chunk of 31,382 options contracts on Thursday that would give them the right to buy gas at $10 per million British thermal units by the end of July. As part of the trade, it sold a similar-sized package of $10.50 calls that will expire on the same day, according to block trade data compiled by Bloomberg.