Cletis isn't it an S-bend with a 90 degree twist? I'm not near my truck now or I'd go out and have a look. The 90 deg twist allows it to lie flat against the bed at the chain end, while hanging clear through the hole up top.

I got the rubber chain tube protectors that keep it from swinging against the gate frame and fenders, but I thought they were way too short to be fully effective. I added some bicycle tire innertube to bridge the gap between the rubber chain tube protector and the hook. Little damage now. (Sure wish the chinese would cut those things about 4" longer and allow US to trim them to fit! Cheapskates. grrrrr)

Bill