CLF nice chart great management

24 thg 4, 2021

I sold the June 17.5 cash secured puts.

This represents 1% of portfolio assets as the potential full loss.

This was a mistake. I should have doubled that position size.

Excellent company consolidating the steel industry.

Infrastructure spend is not if but how large.

Managers are beyond competent.

CEO is the best in this industry.

Buffett once stated that no investment which requires calculus should be done. I disagree. all investments require some calculus.

the economy

the foreign steel dumpers

the cost of raw materials rising or later moderating

the price of steel going forward and into different industries

Nothing is certain.

I am net long with CLF and will stay there..

I think the trend is worth following.

A trend following strategy works with anything.

The most important thing I've discovered is choosing what to trend trade.

I like this management and this industry at this time.

all the best...

24 thg 4, 2021

Ghi chú

I will add to the position as a 17/22 June debit call vertical at the open on Monday.

4 thg 5, 2021

Giao dịch đang hoạt động

Credit Suisse upgrade to day. Stock is a top performer as markets are generally off today.
I observe:
It can take a week or so for analysts to report to investment committees and ideas to get slowly massively into client and in-house portfolios.
Then I observe that the analysts frequently publish upgrades.
Imagine that....

4 thg 5, 2021

Giao dịch đang hoạt động

This is a profitable trade...Time to walk away?
No. I think this has legs. Tomorrow I will close out the initial strikes and roll to the forward months.
the elegant part of a roll is that there are multiple ways to do it. Use all of the profits, take some "off the table," Roll to a gigher or lower strike to stay in..

4 thg 5, 2021

Giao dịch đang hoạt động

'the roll is one of the most powerful options money making strategies. Likely I will simply close out the existing legs and sell slightly higher legs while booking a portion of the profit from this trade in cash. I will likely do something like the 20/16 put vertical cash secured puts for July expiration.

5 thg 5, 2021

Giao dịch đang hoạt động

Rolled it this AM after the open. Took a bit off the table. I would like to think that this has legs - as with every speculation - that is merely a feeling.

the fundamentals are strong and the commodity price through to commercials is strong at this time.

If this goes my way I will exit at 70% gain and decide to roll or not again.

9 thg 6, 2021

Giao dịch đang hoạt động

The CLF common has mived up significantly. the puts are eroding nicely. I will roll these in January for an additional year. Excellent managment and the consolidation is proceeding as stated in the last conference call.

I like my chances.

12 thg 6, 2021

Ghi chú

Rolling it again next week. I like to gain 50% of the total available gain and then roll or exit the position. I think this has legs. Great management. Good balance sheet. Consolidating the acquisition. Management has Wall Street analysts in agreement. That is never bad. Space here for additional institutional ownership.

29 thg 7, 2021

Ghi chú

The company paid off debt and reduced the share count. Logically moving up the share price. the $22 strike leaps are now in the money. The cash received went into GGN and is earning 10% per year.

A very nice development in a strong company consolidating the industry. A straight shooting management with easy to undestand goals and processes. All companies I review shoud be this straight forward.