As you might know I now own 10,000 shares of U.S. Steel (X). 5000 of those shares I bought at $15.95 and 5000 shares I bought at $17. The shares I bought at $14.95 are covering a $15 Call. The shares I bought for $17 did not have a Call sold against them until 2 minutes ago. I sold 50 contracts of the X 7/1/16 $17 Calls and received a premium of $.10 ($500).This is not bad for an option expiring this Friday. I give this a Risk Factor of 1. This is a Covered Call on previously own shares. Here’s the sell order:
Sell to Open 50 X 7/1/16 $17 C @ $.10 (+$500)
I love deals like this! A 3 day option that brings in $500. I know people who work a week for $500!
Steve
The Options Coach