Trade of the Week: Unusual Options Activity in US Steel

Options, U.S Investments, Videos

Recently, there was some significant unusual options activity in United States Steel (X). A flood caused US Steel to shut down one of its steel mills and the stock dropped 6% on the news. This is the sort of situation that typically makes for a good shorter-term options trade.

A steel mill closing should cause a delay in sales/profits rather than a permanent drop. As such, buying one-month calls or selling one to three-month cash secured puts could be a good way to make money on X if the selloff is short-term in nature. On the day of the news, several call purchases took place along with several large orders selling puts.

$500 into $678,906?

If you had followed Jay Soloff’s trades, with a little luck, you could’ve turned $500 into as much as $678,906.

That sounds unbelievable. But you gotta see how it’s possible.

If you can scrounge together $500 in cash, it could’ve been worth a small fortune today.

Check out how it could’ve happened for you, click here.

 

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[FREE DOWNLOAD] 10 Simple Rules for Trading Options Like a Pro

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