Closing Trade : X

Closing TradeStock / Symbol: US Steel / X

Option Strategy: [private_monthly]diagonal call spread[/private_monthly]

Trade entry date: Mar 26
Price at trade entry: $29.66
Price at Apr 27 adjustment: $28.32
Price at Jun 12 adjustment: $18.20
Price at Aug 6 adjustment: $23.30
Price at Aug 17 adjustment: $22.66
Price at Aug 31 adjustment: $19.60

Price at trade exit: $22.30

Current Position:
Long 4 X Jan13 22.5 Calls

Update: For those of us in the original trade with X at $29.66, we're going to capitalize on today's market pop and close out for a relatively small net loss.

Members who entered this trade on Aug 31: Contrats, you're up 77% !!! Time to take your profits and RUN!!!.

Closing Trade Details:

STC 4 X Jan13 22.5 Calls
for a min credit of $2.40 per contract (Day Order, Limit Order). Note: we were filled at $2.45. Current bid / ask: 2.51 / 2.53

Max Risk Existing / New: $1,056 / $540
Max Reward: unlimited
Profit Range Existing / New: $25.20+ / $23.85+ by Jan13 expiration
Realized Profit / Loss Existing: ($72) or -6.8% (pre-commission)
Profit / Loss New on fill: $420 or 77% (pre-commission)

Non-members, click here


  1. Gianluca Queiroli says:

    Didn’t we have a stop set at 18.95 that was hit on Sept 5? Why would have we not closed this position?

  2. TheWiz says:

    There was a suggested stop at 18.49 for those new to the trade. Some used the stop, some didn’t.

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