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]
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Originally published on InvestorsObserver.com