With U.S. Steel down a little over a dollar today I bought 10,000 shares at $20.65. If you look at my Active Trades you will see I have a 100 contract Naked Call LEAP sold on U.S. Steel. With the stock down a bit I covered that Call. Whether I keep the shares until expiration of the LEAP or not, is still to be seen. As the stock goes up and down I might get in and out. I’m not into chasing stocks around but, I have six months until expiration of the Call so the stock can make big moves in that time. If I see the opportunity to grab profit on 10,000 shares I will. At the moment I have a 100 contract $21 LEAP expiring in January and I’m covered with the owning of 10,000 shares. Let’s watch and see what moves I make as the stock moves. I might even do some day trading if I see the opportunity to put $1000 in my mattress.
Steve
The Options Coach