Yesterday I bought 2000 shares of U S Steel (X) in order to do a Covered Call but the stock dropped down a little and I wasn’t executed on the selling of the Call. Today the stock is fluctuating a bit and I was just executed on my Call. I bought the stock at $21.85 and I sold 20 contracts of the X 6/30/17 $22 Calls. This Call brought in a premium of 75¢ for $1500 on the 20 contracts. If this works out the way I want it to, the stock will stay above the $22 Strike Price and I get assigned. This can be a great 4 day Call. Here’s the order:
Sell to Open 20 X 6/30/17 $22 C @ 75¢ (+$1500)
Since this is a Covered Call I give this trade a Risk Factor 1.
I see we have a few new readers. Welcome to Main Street beats Wall Street. Do your reading and make sure you know the order form above. You can read my page Option Order Form.
Steve
The Options Coach