Earlier this morning U.S. Steel went up about $2. I didn’t think it was gonna hold. When it was moving down and around $29 I decided to sell 2 contracts of the $28 Calls. I took a chance but I felt it would come down to $28. I planned on buying 200 shares when it hit $28. The stock did get down to $28 a little while ago but I felt it would go down further so I didn’t buy at $28. I’m glad I didn’t buy because as I write the stock is at $27.36. Tomorrow I’ll watch closely to see if I want to buy the stock to cover my 2 contract Call, but right now my Calls are Naked. I received a very high premium because when I sold the Call the stock was In-the-Money by $1.<\/p>\n
Buy to Open 2 X 5\/14\/21 $28.00 C @ $1.60 (+$320)<\/strong><\/p>\n <\/p>\n This is a 2 contract Call but I’m not listing it as a Grasshopper Trade because it’s \u00a0Naked Call. Most Grasshoppers are not permitted to do Naked Calls. This is a Naked Call on a very hot stock so it gets a Risk Factor 5.<\/p>\n <\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Earlier this morning U.S. Steel went up about $2. I didn’t think it was gonna hold. When it was moving down and around $29 I decided to sell 2 contracts of the $28 Calls. I took a chance but I felt it would come down to $28. I planned on buying 200 shares when it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-11343","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-2WX","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11343"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11343\/revisions"}],"predecessor-version":[{"id":11344,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11343\/revisions\/11344"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}