{"id":1547,"date":"2016-05-03T15:40:11","date_gmt":"2016-05-03T19:40:11","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=1547"},"modified":"2016-05-03T15:40:11","modified_gmt":"2016-05-03T19:40:11","slug":"out-of-u-s-steel","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=1547","title":{"rendered":"Out of U.S. Steel"},"content":{"rendered":"<p>Yesterday I sold a Call on U.S. Steel (X). I sold 100 contracts of the $20.50 Naked Calls expiring this Friday. I brought in a premium of $3000. When I sold the Call the stock was at $19.40. The stock went up to $20.18 and I bought 10,000 shares to cover the call. It went all the way up to $20.40 before it started coming down. When it was at $20.26 I sold the shares because I don&#8217;t want to hold this stock, I made $.08 on 10,000 shares ($800). Today the stock went down big along with everything else (welcome May). I&#8217;m so glad I sold the 10,000 shares, the stock hit a low of $18.46. In 24 hours the premium went from $.30 down to $.09 so I bought my way out to close the deal. I don&#8217;t think X will go up to my Strike Price of $20.50 by Friday but I&#8217;m sticking to my plan of putting money in my mattress. I decided to buy out for the $.09 ($900). I sold for $3000 and bought out for $900 for a profit of $2100 in one day. I&#8217;ll take it and look for another deal. This money is in my mattress! Here&#8217;s the buy order:<\/p>\n<h4 style=\"text-align: center;\"><strong>Buy to Close 100 X 5\/6\/16 $20.50 C @ $.09 (-$900)\u00a0<\/strong><\/h4>\n<p style=\"text-align: center;\">Profit +$2100<\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">When you&#8217;re selling <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"http:\/\/www.mainstbeatswallst.com\/?page_id=313\">Naked Call <\/a><\/span>you never know what&#8217;s going to happen. Especially when its 100 contracts (10,000). The market can go up tomorrow and eat away at my profit. Maybe to the point that I have to buy the 10,000 shares to cover the Call. I&#8217;ll take the money and run!<\/p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Steve<\/p>\n<p style=\"text-align: left;\"><em>The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday I sold a Call on U.S. Steel (X). I sold 100 contracts of the $20.50 Naked Calls expiring this Friday. I brought in a premium of $3000. When I sold the Call the stock was at $19.40. The stock went up to $20.18 and I bought 10,000 shares to cover the call. It went [&hellip;]<\/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-1547","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-oX","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1547","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=1547"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1547\/revisions"}],"predecessor-version":[{"id":1548,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1547\/revisions\/1548"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}