Playing with the Trend

I'm going with the upward trend in the steel production and have messed around some more with U.S. Steel (X) and AK Steel Holding Corporation (AKS). I got back in AKS at $15.94 and entered into another Jan 2011 call on X at $2.70 and closed the position at $4.30.

This morning I bought some Chesapeake Energy Corporation (CHK) on a breakout in the technicals. The tricky thing with this week will be volume since we are going into the Christmas week.

Update: Got in on CHK at market open at $23.93 and sold out 14 mins later at $24.64. As I am updating this, I left some profit on the table the high was $25.04.

Options Assigned

My April covered calls that I sold on RIO and CHK got called away at $15.00 and $20.00 respectively. I still realized an approximate 15% gain on each position at those strike prices. I was safe on my X because my strike price was $30.00 and Friday's close was $29.96....talk about close.