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U.S. Steel attracts attention from call buyers

Option traders are betting on U.S. Steel ( X ) Thursday. So far, 1,041 contracts of the March 44 call have changed hands. Open interest was 291 contracts. The vast majority of today's action has been in the high half of the bid-ask spread, indicating that these new contracts were bought to open.

InvestorsKeyhole Trade Alert

IK-> The technicals for X ($38.74 up $0.05) are bullish with an upward trend. The stock has support about $35.60. Look at the April 32/34 bull-put spread for a 20-cent credit. That's an 11.1% return and the stock has to fall by 12.2% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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