Metals Leader with Attractive Risk/Reward Back at Key Volume Node
US Steel (X) shares trading in a wide range since March and pulling back recently to the value-low for the eight-month period at $22, a significant volume node and key area of support. Shares are also back at the VPOC from October/November. A bounce has room to $24 near-term and the 21-/55-EMA while December POC is up at $25.90. Options flow has been bullish including buyers in late November in the February $27 calls, March $25/$26 calls, January $30 calls and June $25 calls while the July $24 puts and January $26 puts both sold to open.
Trade to Consider: Long the X January $24 Calls for $1.45 or Better