As I did yesterday I just bought 10,000 shares of U.S. Steel (X). Yesterday I bought 10,000 shares at $20.65 and sold 10 minutes later for $20.77 for a $1200 profit. Today I bought for $19.75. The stock is down so I grabbed the shares again. I don’t know if I’ll hold to cover my 100 contracts of X $21 Calls or if I get out with the opportunity to pocket another $1000. Only time will tell. Right now I have a 100 contract Call and it’s covered with the 10,000 shares I just bought.
Steve
The Options Coach