Grasshopper Trade With U S Steel (X)
In the last 10 minutes of the market President Biden signed an Executive Order to help US manufacturing. While he was speaking I made a Grasshopper trade with U S Steel (X).
I bought 100 shares of X at $18.90 and sold a 1 contract 1/29/21 $19.00 Call for a premium of $1.15 for $115.
Buy 100 Shares X @ $18.90
Sell to Open 1 1/29/21 $19.00 C @ $1.15 (+$115)
This trade gets a Risk Factor 1.
I entered this trade for the premium. The $1.15 premium on a $18.90 stock is a return of 6% for the 1 week trade.
Successful trading,
Steve
The Options Coach