Two of our Global Bull Market Alert option plays roared into triple-digit percentage gains yesterday.
The stock of Brazilian mining giant CVRD (RIO) soared as the mining sector was abuzz with a possible merger between market leaders BHP Billiton and Rio Tinto. Your CVRD call options dipped slightly in early trading today but still are up a whopping 96.08%, so sell half of your remaining options to lock in close to a triple-digit percentage profit. Hold on to your 11.52% gain in the stock for now. With the buzz surrounding commodity stocks, this one has a (volatile) way to go.
Korean steelmaker Posco’s (PKX) stock also jumped as the Korean market continues to hit record highs. This Warren Buffett favorite is now up just over 15% since we first bought it six weeks ago. We took profits of close to 50% on Posco options two weeks ago. It’s time to take some more money off the table, so book your profits of 103.93% on half of your remaining options. Like Buffett, we’re holding on to the stock for now.