With inflation risk speculation at highs and default debate going. Might be a good time to buy a producer of commodities. Steel coil/iron ore future at highs. Could be a good outlook for Q4 Earnings for SID, as they own high grade Iron ore deposits in Brazil. Brazil central bank meeting on 26th, might have an affect on the countries currency, which could entail a stronger real further enhancing earnings for the company. Also bounced off yearly moving averages and RSI indicating oversold.
Comment:
Purchased 10 contracts ea of March and June expirations. Slightly out of money calls.