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Msg  1660 of 1714  at  9/22/2023 8:01:59 AM  by

ayla5668


My investment thesis

on clf has been shot to hell. LG going after X along with the UAW strike has me pretty pessimistic on my clf investment.
 
I've got 400 covered $18 calls expiring October 20 and 200 covered $20 calls expiring June 2024. No idea what to do after the October calls expire. An opportunity to get out of most of my shares at $18 would be deemed a win.
 
I've been uber successful on my call writing over the years with clf, just not the overall investment. 
 
While I know it's not in LG's dna, I would like to see him withdraw his bid for X  as opposed to increasing it. I would like him to concentrate on reducing debt and becoming a leaner union shop by lowering headcount thru attrition.
 
I tolerated his abbrasive style when I thought he had shareholders best interest in mind but I don't feel that's the case anymore. With money markets paying over 5% the opportunity costs of holding clf is high. Writing calls offsets that cost but share price reductions more than neutralize the call premiums received.
 
The UAW strike has the potential to destroy the 4th qtr  Let go of X and concentrate on making CLF lean and mean.
 
 
 
 
 


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Msg # Subject Author Recs Date Posted
1661 Re: My investment thesis okie_flats 0 9/22/2023 1:06:34 PM




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