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X - United states steel - Page 7

post #121 of 1603
back to 29. would be nice if it holds and makes its way to 30 in the next few days
post #122 of 1603
anyone buying puts for next week? earning report on 4/28 Tues
post #123 of 1603
Quote:
Originally Posted by Norlan View Post
anyone buying puts for next week? earning report on 4/28 Tues
i am thinking hold calls till the day before then flip to puts. although they cut costs beeter than any other steel stock so they could do what nue did
post #124 of 1603
Quote:
Originally Posted by i_am_so_siri View Post
i am thinking hold calls till the day before then flip to puts. although they cut costs beeter than any other steel stock so they could do what nue did
yeah, but I just thought that monday is typically a down day so today is a good day to start shorting to receive a greater margin
post #125 of 1603
Quote:
Originally Posted by Norlan View Post
yeah, but I just thought that monday is typically a down day so today is a good day to start shorting to receive a greater margin
it probably will be dow didnt hold that 8100 so i think it could just find its way to 7800-7700
post #126 of 1603
ive been watching this considering puts on earnings.
post #127 of 1603
I have considered this but seems that everything lately is coming out with bad earning, but not as bad as everyone predicted, so even though they are losing money as long as it is better than expected the stocks seem to be headed up. I don't know if that will be the same with X but could be.

Ford was the stock last week that jumped a dollar after releasing better than expected losses, not earnings...go figure.
post #128 of 1603
I would treat X as AA. Anyone is hedging with may 30 call and may 27.50 put to lock in with a small gain?
post #129 of 1603
Quote:
Originally Posted by Norlan View Post
I would treat X as AA. Anyone is hedging with may 30 call and may 27.50 put to lock in with a small gain?
may 27.50 putz w00t!!!
post #130 of 1603
Anyone shorting this thing for earinings ?
post #131 of 1603
Quote:
Originally Posted by HSMPICK View Post
Anyone shorting this thing for earinings ?
shorting already since last fri at 30
post #132 of 1603
4:13 p.m.
[X] United States Steel late-shares halted

WTF?
post #133 of 1603
i have it strangled now but not sure what way its going. it would be hard for x to upset. the expectations are so low. also they have done a good job of cost cutting


news
http://finance.yahoo.com/news/United...5571.html?.v=1



PITTSBURGH, April 27 /PRNewswire-FirstCall/ -- United States Steel Corporation (NYSE: X - News) today announced its intention to offer, subject to market and other conditions, 18 million shares of common stock and $300 million aggregate principal amount of senior convertible notes due 2014. The offerings will be made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. Neither the completion of the common stock offering nor the convertible notes offering will be contingent on the completion of the other.

The Company intends to use the net proceeds from the offerings to repay amounts outstanding on its $500 million three-year term loan due 2010. Any remaining proceeds from the offerings will be used to repay amounts outstanding on the Company's $500 million five-year term loan due 2012 and then for general corporate purposes. As of March 31, 2009, there was approximately $180 million and $475 million outstanding on the Company's three-year term loan and five-year term loan, respectively.

J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated are the joint book-runners for the common stock offering. J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. are the joint book-runners for the convertible note offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to the securities has been filed with the Securities and Exchange Commission.

Copies of the prospectuses meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from J.P. Morgan, National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245 or by telephone at (718) 242-8002, Morgan Stanley, Prospectus Department, 180 Varick Street 2/F, New York, New York 10014 or by telephone (866) 718-1649, Merrill Lynch, One Bryant Park, New York, New York 10036 (for copies of the common stock preliminary prospectus supplement), Goldman Sachs, Broad Street, 20th Floor, New York, New York 10004 (for copies of the senior convertible notes preliminary prospectus supplement) ,and at www.sec.gov.
post #134 of 1603
18m shares really not that bad considering most financials are releasing double what thier current o/s is and many other companies are releaseing enough common to raise the o/s by 50%. this will raise the o/s from 116m to 134m
post #135 of 1603
wow -3.84 i didnt think it would be almost double the estimate..
post #136 of 1603
haha, i hope you're still holding your shorts if you were in it, siri. Now it's down to $25, which exceeds my target which was 27.50
post #137 of 1603
Quote:
Originally Posted by Norlan View Post
haha, i hope you're still holding your shorts if you were in it, siri. Now it's down to $25, which exceeds my target which was 27.50
i had 30x calls and 27.50x puts. should end up good. paid 1600 for 10 calls at 1.60 and paid 2200 for 10 puts at 2.20.
post #138 of 1603
Quote:
Originally Posted by Norlan View Post
haha, i hope you're still holding your shorts if you were in it, siri. Now it's down to $25, which exceeds my target which was 27.50
nice!!
post #139 of 1603
Quote:
Originally Posted by i_am_so_siri View Post
i had 30x calls and 27.50x puts. should end up good. paid 1600 for 10 calls at 1.60 and paid 2200 for 10 puts at 2.20.
so how much profit up now? too lazy to calc myself
post #140 of 1603
Quote:
Originally Posted by Norlan View Post
so how much profit up now? too lazy to calc myself
i havent bothered to figure it either. never know for sure where the options will be.
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