USX1 trade ideas
$X US Steel Oversold at Support$X US Steel Oversold at Support
Expecting a bounce near term - target $19-$20 area by early May
Note: Informational, not investment advice.
US Steel "X" downtrend continuesYear long downtrend continues... bear flag...
Trade war not making X great again...?
Double bottom possible around $17.50...?
I would appreciate comments, as this is my first published chart and I am not a trader.
Long Term Buy, might bump against resistanceI like X longer term, on a value basis...Net incomes are now positive, debt is down over the past couple of years (and now looks manageable).
Shorter term looks like a bear trap, unless a China miracle happens, bumping up against the longer term down trend. If it powers through (thank you value investors with a PE ~4), if it pulls back we're watching for a volume based bottom to buy some more for the long term.
OPENING: X MAY 17TH 19 SHORT PUT... for a .49/contract credit.
Metrics:
Max Profit: $49
Buying Power Effect: ~$202/contract
Break Even/Cost Basis If Assigned: $18.51/share
Delta: 15.96
Theta: .74
Notes: Here, I'm just looking to deploy some buying power in one of the few underlyings with fairly decent implied volatility (42.4%) at a high probability of profit strike (the 16). I'm fine with taking on shares, but only want to do that at a discount over current price -- the 18.51/share cost basis represents a 20.4% discount over where it's currently trading. Will look to roll out as is at 50% max as long as that remains productive.
X LongNYSE:X
Esta haciendo un triángulo ascendente, y se esta consolidando en una zona de soporte - resistencia, reporto resultados muy buenos, yo espero que continúe con esa tendencia que lleva haciendo desde diciembre.
$X high volume flush on earnings. Ready to go higher$X gapped down on earnings & the buyers got to work immediately on enormous volume flushing out all the weak hands. X has been grinding sideways and now looks ready to ramp higher out of this bullish symmetrical triangle. Long and adding
$x #x$X been wedgey this year. Looking to enter when price moves out of cloud, hoping its near support.
$X channel in downtrend I could see X testing the upper DTL, Still showing signs of significant weakness. Would consider going short at trend line if a good setup presents itself.
$X bullish ascending triangle breakout. Looking for $30$X is pushing higher through top of ascending triangle resistance. I am long and am looking for $30.
OPENING: X FEB 22ND/APRIL 18TH 18/22.5 UPWARD CALL DIAGONAL... for a 3.09/contract debit.
Metrics:
Max Loss/Buying Power Effect on Setup: $309
Max Profit on Setup: $141
Break Even on Setup: 21.09 vs. 20.71 spot
Debit Paid to Spread Width Ratio: 68.7
Delta: 37.91
Theta: .61
Notes: The front month short doesn't pay for all of the extrinsic in the back month long (which is generally why you want your break even to be at or below spot), but I'm somewhat fine with that given the debit paid to spread width ratio.
On a side note: I'm getting into quite a bit of long delta here, so will have to look for opportunities to add short delta, either on a per instrument basis or via a broad market short delta setup ... .
$X cut in half.Showing signs of life. Bullish ascending triangle$X has been slashed in half over past few months but is now showing signs of life and I am building a long position. X is trading above the 8 day ema and above the 20 day sma which is also turned higher. $X is printing a bullish ascending triangle and next leg should be up.
X U.S. Steel A Potential Great Value Stock @ Sub $10 Not Here Yes you read that title correct - this name on a crash can go all the way back to $8 and be an exceptional long term hold - we are not and would not short this name but will back up the truck at the right price. Be careful of bulltrap bounces on this name right in this $17 to $18 area. #stocks #trading #steel
TRADE IDEA: X FEB/APR 15/19 UPWARD CALL DIAGONALMetrics:
Max Profit on Setup: $108
Max Loss/Buying Power Effect on Setup: $292
Break Even vs. Spot: 17.92 vs. 18.25
Debit Paid to Spread Width Ratio: 73%
Delta: 30.35
Theta: .82
Notes: With high implied volatility rank/30-day implied (82/67) and fairly long-term weakness, putting on some bullish assumption here without hanging a ton of buying power out there if it goes south with the flexibility to work the setup long-term as a cost basis reduction play or synthetic covered call with the option to exercise the back month long if things go my way.
Other Possible Plays:
Short Strangle/Straddle: Earnings are 31 days out, so you may want to consider straight nondirectional premium selling closer to the announcement instead: the February 15th 16/21 short strangle is currently paying 1.39 with a 50% max metric of .69; the 18 short straddle in the same cycle: 3.26 with a 25% max metric of .82.
Iron Condor/Fly: The February 15th 13/16/20/23 is paying 1.15 (greater than one-third the width of the wings); the 13/18/18/23 fly, 2.73 (greater than one-fourth the width of the longs).
Short Put: If you're into "wheeling" (short put, acquire, cover), the February 18 short put is paying 1.50 in the February cycle a cost basis of 16.50 if assigned on the 18's, an 8.3% discount over current price.
United States Steel - is it time to buy?More shares have been bought than sold by United States Steel insiders in the past 3 months. If Trump gets his $5billion fir the wall/steel fence, X could benefit big time.
