IRA – US Steel FEB/APR Diagonal
January 12th, 2010. Posted by ThetaTrader
X – 47.06 (-0.94)
02/03/2010 – ThetaOptions IRA Portfolio – US Steel FEB/APR Converted to Calendar
Wow, what a nice little play we had on US Steel a few weeks ago. Although the stock actually dropped a little to far; it would be really nice if they had stalled out around $55. While we could take our chances & wait another (2) weeks for that to happen, the IRA has decided to morph the spread into a safe little Calendar spread for about 0.25 debit. Please remember that we took $175 credit we we initiated this trade, so by giving up $25 our total profit is still $150 no matter what happens to the stock. Read the rest of this entry »