Stock / Symbol: US Steel / X
Option Strategy: call ratio spread
Trade entry date: Oct 25
Price at entry: $22.73
Price at this post: $26.40
Reasoning: With our short calls well ITM, we're going to close the trade here for about a 5% profit in 3 days time.
Trade Details:
STC 3 X Jan12 22.5 calls
BTC -2 X OctWk4 22 calls
for a net credit of $7.80 per contract (day order, limit order)
Max Risk: $740
Max Profit: $75 or 10% @ $22 by Oct 28
Profit Range: $21.60 + by Oct 28
Profit / Loss upon fill: $40 or 5.4% (pre-commission)
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