I am writing to correct a mistake I made in both of my post that went out as emails today.
This morning I bought 3000 shares of U.S. Steel at $36.31. It was pointed out by numerous readers that in my email I had it that I bought for $35.31.
Also, later in the day I sold a Call against these 3000 shares with a 30 contract Call. In that email I also made the same mistake saying that I bought the stock at $35.31.
I am also watching RH very closely because I have a Naked Call sold on that stock. That stock was ranging around the $35.50 – $35.90 area. I guess I had the number 35 on my brain.
I know I make a few mistakes from time to time because they’re all pointed out to me. And I appreciate the notices and understanding. But sometimes I’m type very fast with my one finger, lol and I slip up. I must get the post out in a timely manner to keep it as close to real time as possible, and get back to my trading windows.
It makes me very happy that so many people are reading my site. I hope it’s helping you to understand options a little better. Below are the 2 correct trades I made today.
Buy 3000 Shares X @ $36.31
Sell to Open 30 X 3/24/17 $37 C @ 65¢ (+$1950)
Thanks everyone,
Steve
The Options Coach