U S Steel (X) took a nice leap today on news that the USA continues to monitor the worldwide steel dumping and put many countries on notice that their cheating will no be tolerated. X is up 7.5% ($2.20) and it looks like the steel industry can move in the coming days or weeks. I don’t have complete confidence the move will be long lived so I did an At-the-Money “Buy-Write.” I bought 1000 shares of X at $31.95 and sold 10 contracts of the 12\/9\/17 $32 Call for 50\u00a2 (+$500). I’m not looking to make anything on the stock, I’m looking to keep the $500 premium and be out of this position this Friday. If I do get assigned I’ll make 5\u00a2 on the stock for an additional $50.<\/p>\n
U S Steel Buy-Write<\/strong><\/span><\/p>\n Buy 1000 Shares X @ $31.95<\/p>\n Sell to Open 10 X 12\/8\/17 $32 C @ 50\u00a2 (+$500)<\/p>\n <\/p>\n I got out of RH this week with a nice profit. I didn’t want to be in the position into the earnings which were announced yesterday. The results were in-line with estimates and today the stock’s not doing much, down $1.50 as I write. I’ll be looking to get back in soon.<\/p>\n <\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" U S Steel (X) took a nice leap today on news that the USA continues to monitor the worldwide steel dumping and put many countries on notice that their cheating will no be tolerated. X is up 7.5% ($2.20) and it looks like the steel industry can move in the coming days or weeks. I […]<\/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-3821","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-ZD","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3821","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=3821"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3821\/revisions"}],"predecessor-version":[{"id":3822,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3821\/revisions\/3822"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}