Steel’s Strength Continues into 2023

Steel stocks have been strong lately – look how U.S. steel has risen this month:

And it looks like big money thinks this will continue… long-term.

Check out this 8,529-lot LEAP trade:

LEAP stands for long-term equity anticipation securities. They’re essentially option trades that expire far into the future.

And this trader thinks that X will rally through January 2023.

I’m looking for X to continue to rally throughout the year – and long-dated calls like these January 2023 LEAPs make sense.

I’d definitely be interested in piggybacking this trade.

Add CLF to the Post-Earnings Profit List

  1. Cleveland-Cliffs Inc. (NYSE:CLF)

This steel stock is down post-earnings, but it’s off the lows. I think it could potentially bounce from here… meaning CLF is prime for a post-earnings call.

My Profit Revolution members have been killing it with post-earnings trades this week. I’m talking about 80% in two days on MRK and 217% in eight days on FCX.

And I’m ready to add CLF to that list.

Learn my post-earnings trading strategy right here.

  1. AMC Entertainment Holdings Inc. (NYSE:AMC)

AMC’s short squeeze seems to be calming down – and the entertainment stock could be heading back to sub-16 or even 15 in short order. I might look at puts on this name.

  1. Uber Technologies Inc. (NYSE:UBER)

After yesterday’s pop, halt, and drop, Uber is looking to find some footing. And I’m looking to take advantage of the dip by selling puts.

Bullard’s Wet Blanket

Yellow Traffic LightMy VIX light is still yellow today, but we’re leaning on the cusp of red heading into the weekend.

After Thursday’s higher-than-expected CPI, the market tried to recover. But then Federal Reserve Bank of St. Louis President James Bullard came out and put a wet blanket on the market, saying he wants to raise interest rates 1% by the start of July.

The market is bouncing around today, trying to shake off Bullard – and I am looking to hunt it for an even strike.

Enjoy your weekend,

Mark Sebastian
Founder, Profit Takeover


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