{"id":2497,"date":"2016-12-28T16:01:03","date_gmt":"2016-12-28T21:01:03","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2497"},"modified":"2016-12-28T16:01:03","modified_gmt":"2016-12-28T21:01:03","slug":"buy-to-close-u-s-steel-calls","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2497","title":{"rendered":"“Buy to Close” U.S. Steel Calls"},"content":{"rendered":"

Yesterday I sold 100 contracts of the U.S. Steel (X) 12\/30\/16 $36.50 Calls for a premium of $.70 ($7000). Today with the market down on “not so great” housing news, I decided to get out of my X Calls. With 2 full days remaining until expiration and the premium down to $.15 I locked in a nice 1 day profit of $5500. If the stock goes up at the open tomorrow I’ll sell another Call. Below is the “Sell to Open” and the “Buy to Close” orders.<\/p>\n

Sell to Open 100 X 12\/30\/16 $36.50 C @ $.70 (+$7000)<\/h4>\n

Buy to Close 100 X 12\/30\/16 $36.50 C @ $.15 (-$1500)<\/h4>\n

Profit +$5500<\/strong><\/p>\n

\n

I still own the 10,000 shares of X. I’m hoping the market rebounds tomorrow and I get to sell another Call. If not I hold the stock and sell a Call when I can.<\/p>\n

Selling Calls is a way of hedging (insurance) in the case your stock goes down when trading Covered Calls. I only had $.15 left of insurance so I think this was a good exit point.<\/p>\n

\n

Steve<\/p>\n

The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday I sold 100 contracts of the U.S. Steel (X) 12\/30\/16 $36.50 Calls for a premium of $.70 ($7000). Today with the market down on “not so great” housing news, I decided to get out of my X Calls. With 2 full days remaining until expiration and the premium down to $.15 I locked in […]<\/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-2497","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-Eh","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2497","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=2497"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2497\/revisions"}],"predecessor-version":[{"id":2498,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2497\/revisions\/2498"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}