X trade ideas
$X X STEEL GETS THE ATTENTION OF THEY BULLS WITH 11% GAIN Much needed relief was felt today by the board and investors in X Steel after a dismal 12 months. Yesterdays earnings produced a surprise in both earnings and revenue thus creating the pop in the stocks price, volume is quite good today also but the stock has a high short interest. Next week will tell us if this provides a opportunity to long on continuation from today's action. No need to rush in, plenty of upside remaining. Company is still trading at a very low 2.3 P/E ration.
Company Description
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufactures steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke. The U.S. Steel Europe segment offers producing and marketing strip mill plates, spiral welded pipe, heating radiators, refractory ceramic materials. The Tubular Products segment involves in manufacturing and trading seamless and electric resistance welded steel casing and tubing. line pipe, and mechanical tubing.
Vomiting Camel pattern. This thing could really plummet. Albeit lazily drawn, I present the dreaded “vomiting camel” pattern. I’m not making this shit up. There’s actually a pattern you can look for that is a serious fucking bear when you do. It’s got this ridiculous name for obvious reasons, but here it is and I’ve decided on the 4/46 long put, 17 strike. It cost .66 and is at .69 as of 1053am 4/12. I’m not going to get chased away from this one too quickly as it has potential to really plummet. If it goes sideways I’ll look to roll this one.
$X X STEEL IS AT MAKE OR BREAK LEVEL AND A 2.76 P/E RATIOX STEEL HAS REALLY SUFFERED RECENTLY AND RECENT ANALYST DOWNGRADES TO SELL WILL DEFINITELY NOT HELP. CURRENTLY SELLING AT A 2.76 P/E RATIO, WAIT TO SEE IF SUPPORT HOLDS BEFORE ENTERING A LONG WITH STOP BELOW $16.
$X US Steel Oversold at Support$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 ... .
