{"id":2898,"date":"2017-03-15T11:26:00","date_gmt":"2017-03-15T15:26:00","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2898"},"modified":"2017-03-15T11:26:00","modified_gmt":"2017-03-15T15:26:00","slug":"u-s-steel-buy-write-4","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2898","title":{"rendered":"U.S. Steel “Buy-Write”"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Between my 5000 shares of U.S. Steel (X) being below my purchase price and waiting for my Tyson Foods (TSN Short position go in my direction, it’s gonna be a little hard getting to my weekly goal of $3000 as per my “2017 Challenge.<\/a><\/span>” However, don’t count me out yet!<\/p>\n

The 5000 shares of X and the 3000 Short shares of TSN had my margin buying power very low. Now that I’m out of the TSN Short position my buying power is back where I need it to get some work done. I got out of TSN yesterday, if you didn’t see that post hit this link, Out of Tyson Foods Short Position<\/a><\/span>. If you have any questions on this trade send me an email.<\/p>\n

With my 5000 shares of X on the back burner while I wait for it to get a little higher to get a decent premium, I just opened another position with X. I did a “Buy-Write<\/a><\/span>.” With the stock a little lower than $36 I just got executed on my trade. I bought 2000 shares of X at $35.90 and I got a premium of 75\u00a2 on 20 contracts ($1500). This position will expire this Friday, 3 days. After I got executed, the stock continued higher and as I write it’s at $36.25. I already own 5000 shares so I really don’t want to keep this new 2000 shares. I hope on Friday I’ll get assigned on these shares to end this position. If the stock closes above the $36 Strike Price I’ll keep the premium of $1500, plus make 10\u00a2 on the stock for an additional $200.<\/p>\n

This “Buy-Write” Covered Call is at a price I like U.S. Steel. I think it can go up for assignment, so I give this trade a Risk Factor 1<\/strong>. Here’s the “Buy-Write” order:<\/p>\n

Buy 2000 Shares X @ $35.90<\/h4>\n

Sell 20 X 3\/17\/17 $36 C @ 75\u00a2 (+$1500)<\/h4>\n

 <\/p>\n

Now let me go see if I can bring in another $1500 to make my goal.<\/p>\n

 <\/p>\n

Steve<\/p>\n

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

Between my 5000 shares of U.S. Steel (X) being below my purchase price and waiting for my Tyson Foods (TSN Short position go in my direction, it’s gonna be a little hard getting to my weekly goal of $3000 as per my “2017 Challenge.” However, don’t count me out yet! The 5000 shares of X […]<\/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-2898","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-KK","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2898","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=2898"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2898\/revisions"}],"predecessor-version":[{"id":2900,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2898\/revisions\/2900"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}