Grasshopper Trade with U.S. Steel

I’m a little late reporting this trade. I was filled about 2 hours ago and just got to posting now.

I really haven’t liked the way the market’s been moving for a while now. I decided to try a little day trading. The problem with day trading is you have to be near your computer and concentrate. The last few day I’ve been doing nice. I’m keeping a log of my trades but I’m not posting. I figured let me get my strategy down before I start bothering you with my new venture. The bottom line is I’m working so closely with my strategy that I didn’t get to post my U.S. Steel (X) trade.

It’s not a big trade and it’s not for a lot of money. I own 400 shares of X and today I sold 4 contracts of the $28 Call for a 20¢ premium. Like I said, it’s not a lot of money but this Call expires tomorrow and I hope to get assigned. I’m trying to build some liquid cash to have available for my new venture.

 

 Sell to Open 4 X 9/3/21 $28.00 C @ 20¢ (+80)

This is a Covered Call on previously owned stock so the trade gets a Risk Factor 1.

 

I’ll be writing more about my day trading soon.

 

Successful trading,

Steve

The Options Coach