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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The volatility in markets continues. Last week, U.S. markets closed with one of their strongest performances since March, only to give up many of their earlier gains in the market sell off yesterday.
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