Notable Put Options Activity in AK Steel

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Shares of AK Steel (NYSE: AKS) are lower on the session by 2.32%, currently trading at $7.15. The stock has been moving largely lower over the past two months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the April 2012 $6.00 put, which has traded 7,600 times on open interest of 518 contracts. The Apr2012 $8.00 and $7.00 puts are also active. Put volume is outpacing call volume by 7.5 to 1. AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary, AK Steel Corporation.

27% profit every 20 days?

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