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United States Steel Corp. Message Board

  • farkey83 farkey83 Jan 25, 2013 9:04 AM Flag

    SOMEONE IS BETTING BIG X IS $13 IN SIX MONTHS

     

    U.S. Steel faces large bearish trade
    By David Russell optionMONSTER – 3 hours ago

    U.S. Steel has been hovering, and one trader is worried about a cataclysmic selloff.

    optionMONSTER's Depth Charge tracking program detected the purchase of about 9,000 July 20 puts for $0.91 and the sale of an equal number of July 13 puts for $0.135. Volume exceeded the previous open interest at each strike, indicating that they are new positions.

    The trade cost $0.775 to open and is highly bearish, earning a profit of more than 800 percent if X closes at or below $13 on expiration. That would represent a drop of almost half for the iconic Pittsburgh-based company.

    Sentiment: Strong Sell

    This topic is deleted.
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