I posted a chart on my investment in CLF prior to this chart.
The good news today is the announcement that the company used free cash to retire the series B preferred stock related to the ArcelorMittal deal thus effectively reducing proforma share count by 10%. This is a positive earnings driver for the share price upward over the next two quarters.
The $22 strike, 2023 leap puts I sold are in the money.
This is a move which is more than twice the 20 day average true range.
To follow the trend, additional investment of an additional 2% of total account value is required.
I like my chances.
all the best
The good news today is the announcement that the company used free cash to retire the series B preferred stock related to the ArcelorMittal deal thus effectively reducing proforma share count by 10%. This is a positive earnings driver for the share price upward over the next two quarters.
The $22 strike, 2023 leap puts I sold are in the money.
This is a move which is more than twice the 20 day average true range.
To follow the trend, additional investment of an additional 2% of total account value is required.
I like my chances.
all the best
Trade active
Continuing to invest in CLF. I sold the November 23/19 strangle this moring for a nice net credit of 38 cents. I will own CLF sub 19. A buyout offer above $23 hurts me but CLF has been a consolidator and not a target in this industry.Note
time will tell. But I also have a leap position that will mitigate a buyout offer if it were to occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.