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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Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers: