A little while ago I bought 3000 shares of U.S. Steel at $36.31 in hopes of selling a 30 contract Call to expire this Friday. After I made the purchase the stock started to move up so at this point I’m shopping for a Strike Price and premium I feel will be advantageous and fit into my risk policy. I will post as soon as I sell a Call. Here’s the order:
Buy 3000 Shares X @ $36.31
The reason I’m buying more shares when I already own 5000 shares is because these shares are lower than when I bought them and I cannot yet get a premium I like.
Steve
The Options Coach