US Steel Corp (X) $22.26 -2.84%

| October 23, 2012 | 0 Comments More

US Steel (X) drops 66 cents to $22.25 and early trades on the steelmaker include a 2200-lot of Nov 23 puts for $1.61 when the market was $1.55 to $1.61. It traded on the International Securities Exchange and was an opening customer buyer, according to ISEE data. 3,162 traded. But Jan 22.5 calls are the most actives in US Steel this morning. 7,175 traded including several lots traded on the bid just after the opening bell — possibly liquidating trades. The contract is falling 25 cents out-of-the-money after today’s drop in the underlying and has 11,170 in open interest. 9,100 calls and 7,440 puts traded in the name through the first 30 minutes. The company reports earnings a week from today.

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Category: All Stocks, Basic Resources, Mid Cap Stocks

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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.

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