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UNITED STATES STEEL DL 1UNITED STATES STEEL DL 1UNITED STATES STEEL DL 1

UNITED STATES STEEL DL 1

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USX1 trade ideas

US Steel up for resistanceUS Steel is in a nice uptrend since setting the bottom in early 2016. The current uptrend is likely to remain. Recently a long term declining resistance line has been broken (the red dotted line) which had been tested late 2016. After a short pullback the stock price continues its uptrend. Both the MACD and RSI show signals for further advancing of the stock price, both curling up after setting a higher bottom. First potential resistance is the last major top, set in September 2014, around 46. This level is also the 61.8% retracement level formed from the major top around 70 to the bottom in 2016. I have no position in X, and would be hasitant to enter a long position below 46. After breaking the resistance at 46 (significantly) I would consider a long position.
NYSE:X
by Spijk
X EARNINGS SHORT STRANGLE/IRON FLYX announces earnings tomorrow (Tuesday) after market close, and with its implied volatility rank and implied volatility metrics, it's ripe for a volatility contraction play. Here are two possible setups, which naturally might need to be tweaked this way or that depending on price movement intraday tomorrow. Feb 17th 29/38 Short Strangle Metrics Probability of Profit: 68% Max Profit: $130/contract Buying Power Effect/Max Loss: Broker Dependent/Undefined Break Evens: 27.70/39.30 Notes: (1) Here, as is my habit, I'm selling the 20 delta call and put. (2) I went out a little bit farther in time to the monthly, since things are generally more liquid there, so I would be more likely to get a fill at the mid without too much diddling around. (3) Look to manage at 50% max profit or about $65/contract. Feb 17th 25.5/33/33/41 Iron Fly Metrics: Probability of Profit: 50% Max Profit: $392/contract Max Loss/Buying Power Effect: $408/contract Break Evens: 29.08/36.92 Notes: (1) The first thing I did was check to see what a three-wide iron condor would pay with the short options at the 20 delta strikes. It was less than 1/3rd the width of the strikes, so I switched to putzing with a fly. (2) Look to manage this setup at 25% max profit (~$98/contract). (3) While the setup looks "sexier" from a max profit standpoint, you'll also notice that the profit zone is narrower than that of the short strangle. Nevertheless, is defined risk going in, so I know what my max loss is if the thing blows up in my face.
NYSE:X
by NaughtyPines
3
X- Speculative Call option trade as it forming a Flag formationX seems forming a possible Flag formation, clearly seen in weekly chart. It also shows a small downward channel. At the breakout it can go up to 55 area, and to catch the gain we would consider $33 March Calls. Trade Criteria Date first found- January 25, 2017 Entry Target Criteria- Speculative entry point at current price, confirmation at the Break of channel ($36.67) Exit Target Criteria- First target $45, Second target $55 Option- $33 March-17 Calls, currently $3.10/3.15 Stop Loss Criteria- N/A (Note: Trade update is delayed here.)
NYSE:XLong
by AcornWealthCorp
1