While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
The November 6th $14 call on US Steel is being quoted at $.30 to $.40.
My suggestion is to Sell to Open (1) November 6th-$14 call for $.35.
You should get filled in the middle.
Assuming you get filled at $.35, that will mean you will have collected almost 90 cents in premium by selling calls on X.
And if the calls are assigned in two weeks, the return will be around 6.4% on the position.