Writing a Covered Call on U.S. Steel (X)
Thursday, February 11th, 2010Also today, I went ahead and did some covered call on my U.S. Steel (X) position that I am holding since last week (Purchase Priced $47.20). I sold the FEB $48.00 CALL @$1.05 for a net credit of $105 per contract sold. All I need is for U.S. Steel to be under $48.00 to keep the premium. If you want to see some more details about why am I trading U.S. Steel (X), look at my little analysis done over the past week at Watching X Charts
ABOUT THIS AUTHOR
I’ve been trading since early 1990s in the markets. After having lived through the DOT COM crash, as well as the bounce thereafter, I realized that in order to make money in the market our EXITS are far more important.
Patience + Discipline + Money Management + System = PROFIT
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Good move. You should include that transaction in the performance section as well. I’d like to see that.