I’m a little concerned with my U.S. Steel (X) position. I have 100 Naked contracts sold of the $19 Calls expiring today. If the stock closes above my $19 Strike Price I have to deliver 10,000 shares at $19. As I write the stock is at $18.90 but is has already been up to $19.48 today on a down day. The stock has been moving up nicely (if you own shares). Which hurts my position. A few minutes ago it dropped down to the $18.70 area but it looks like it might hit support at this level. I decided to play it a little safe and I bought 5000 shares at $18.70. At this point I have half my position covered, which makes me feel a little better. If the stock goes above the $19 point I have half my position covered and if it stays below the $19 point I still have 50 contracts Naked, which will increase in value. Depending on which direction it goes and closes at I’ll make another adjustment move. I like where I am right now. Here’s the stock buy order:<\/p>\n
<\/p>\n
As I hit the button to post this the stock is at $19.25. This can get interesting! But we have a long way to closing.<\/p>\n
<\/p>\n
Steve<\/p>\n
The Options Coach<\/em><\/p>\n I’m a little concerned with my U.S. Steel (X) position. I have 100 Naked contracts sold of the $19 Calls expiring today. If the stock closes above my $19 Strike Price I have to deliver 10,000 shares at $19. As I write the stock is at $18.90 but is has already been up to $19.48 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-1520","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75MP0-ow","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"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=1520"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1520\/revisions"}],"predecessor-version":[{"id":1521,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1520\/revisions\/1521"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00a0<\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"