Selling STLD puts for income.
As a U.S. steel manufacturer, STLD is experiencing strong demand from the great reopening. Shares pulled back recently thanks to concerns of higher input prices (particularly power). But STLD should be able to pass higher costs on to customers and the stock trades at a very deep value compared to expected earnings.
- Sell (to open) 1 STLD November 19th $60 put
- Limit: $2.90 or more
- The new position will represent roughly 6.0% of our model.
- 14:21 Executed
- Sold 1 STLD Nov 19th $60 Put @ $2.95