Wednesday, May 13, 2009

CLF

CLF - Cliffs Natural Resources Inc $24.80 9:56am

I opened a long stock position on CLF at $24.70. They had a secondary offering and I am looking for a $1-$2 gain on the stock price.

You can also sell some cash-secured puts JUN20 (CLFRD) or JUN21 (CLFRM) PUTS for a longer term play. I will open half position today. I will update when I open the put position.

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