NaughtyPines

OPENING: AKS COVERED CALL

NYSE:AKS   AK STL HLDG CORP
It was either this little fella or X ... .

Bought 100 Shares at 4.60
Sold the Oct             21st 5 call
Filled for a 4.29 debit
Max Profit: $71 (if called away at 5)
ROC: 16.6%
Trade closed manually: Taking profit here ... . Closed for a 4.65 per 100 share/contract credit; $29 net profit per 100 shares/contract (6.3% ROC). Not a huge winner, but looking to free up buying power where I can for earnings/potential broad market vol pop at some point.
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