Earlier today I bought 2000 shares of U S Steel (X) at $21.98. The stock went up, and with tomorrow being the 4th of July I decided to grab some profit. You never know what happens after a holiday. When the stock was at $22.33 I was up 35¢ and I locked in a $700 profit on a day trade. It’s great to lock in some profit to start off a week.
7/3/17 – Buy 2000 Shares X @ $21.98
7/3/17 – Sell 2000 Shares X @ $22.33
Profit +$700
In the mattress!
Steve
The Options Coach
Noticed you use us steel often, any particular reason for that?
Yes I do! Lately I like that the Trump administration is promising infrastructure spending, plus working on the China trade deal. I think this can help the U.S. use more of our own steel products. Also the stock is way off it’s highs and I’m hoping the stock will rebound. If it does I’d like to sell Covered Calls. The stock has been up in volume. Already traded over 11 million shares today and it’s only a little after 1pm. Plus the premiums fall into my criteria.