Back on Aug. 13, I recommended that some of you with a more speculative bent buy some POSCO (PKX) options — the November $135 calls (PKXKG.X). Since then, POSCO’S stock has roared ahead, up over 8% just yesterday, to break through the $150 level.
The options have done even better — up 47.39% just over the past two weeks or so. Let’s not be too greedy in this choppy market. Take profits on half of our options here. Hold on to the stock and the rest of the options for now. This Warren Buffett favorite has plenty of steam left in it.
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Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
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Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: