Steel Stock #1: United States Steel (X)

First on my list is steel titan United States Steel (X).

Now, X does have to overcome resistance near the $42 level, but I fully expect it can do that sooner than later.

Think of resistance levels as brick walls. Every time a stock hits the resistance, it takes another chunk out of the wall, so that it's left weakened. All X needs is one good hit to punch its way through.

To net some cool profits during the summer heat wave, the best trades in X are the $40 strike calls, whether you choose to play that more conservatively with the September calls or take on more risk with the August options.

My short-term target for X is $50.

Steel Stock #2: Nucor Corp. (NUE)

Nucor Corp. (NUE) appears to be in an ascending triangle pattern, which is a short-term bullish pattern that takes approximately three months to play out.

By the time summer is wrapping up, I believe bullish calls in Nucor will have thrown off some heat to options traders!

An ascending triangle is a basic chart pattern that's easy to recognize. It's characterized by a flat top and a rising bottom trendline.

However, NUE's ascending triangle has more of a corrective nature. It recently almost hit its bottom trendline, which means a bounce back typically follows. It has to hurdle its resistance just below the $50 mark, but I believe it will do that and climb right up to the $55 level.

The best way to take advantage of this impending move is to buy the NUE August or September $55 strike calls. They both appear to be really great plays, especially at these levels.

Iron Stock #1: Cliffs Natural Resources (CLF)

Cliffs Natural Resources (CLF), formerly known as Cleveland Cliffs for the company's headquarters, is in a very similar pattern to NUE. Bottom line: CLF is ready for a breakout.

But, again, it's not a classic ascending triangle because CLF's historical pricing involved more of a consolidation after previously hitting resistance around the $31 level.

After CLF makes it past that, I'm looking for the stock to take a small pause between $32 and $33 and then zoom up close to the $40 level.

The best way to conservatively play this potential move is in the CLF August and September $30 strike calls.

There's no need to get bogged down with the big, long-term picture of any sector when you can focus on near-term bullish profits — and when you bank your wins, you can thank technical analysis, which has netted my Parabolic Options subscribers 170% in nine days, 124% in five days, 60% in one day and more. Learn more here.