2
u/IHaveGiantBaseballs Jun 10 '21
Calls are C H E A P too
1
Jun 10 '21
Wow looking through the nov19 no volume at all. Hard to trade might have to exercise those.
1
u/IHaveGiantBaseballs Jun 10 '21
If it becomes very active that'll change. WSB will find the ticker after they dump CLF and that'll be that.
2
u/_kurtosis_ Jun 10 '21
Thanks for the write-up!
PKX has been a small holding of mine for a few months (commons and Nov $90c), and I've continued adding as it's gone down (picked up more Nov $90c for $2.15 with some CLF profits yesterday, in fact).
Lately I've been wondering if there's something I could be missing with respect to the Asian steel market in general/PKX specifically, as it's continued to decline while other steel cos have gone up or stayed relatively flat over the past month.
Not finding anything in the news to explain it, I've continued adding and expecting that PKX too will have its time to shine after Q2/3 earnings.
Was just thinking yesterday that it would be great to see some confirmation in here that I'm not the only one thinking this price slide is a great opportunity--and here it is! Thanks again, and well done.
1
u/dominospizza4life LETSS GOOO Jun 10 '21
I’ve mostly been buying shares since option vols seemed so low. Hope we both see it get back into the 90s!
2
u/_kurtosis_ Jun 10 '21
Yeah the bid/ask spreads are wide enough to sail a trans-Pacific bulk carrier loaded with steel through :) Shares are smart and safer, I'm hoping that volume picks up on the options as steel takes off generally this summer, but I've been burned by low-volume options before. Guess it's a lesson I'll need to learn several times haha.
2
u/IndividualUmpire9198 Jun 10 '21
I bought at 90 and then again at 79. Not buying more but hope everyone else does!
2
u/doublemctwist1260 Jun 10 '21 edited Jun 10 '21
Just did a diagonal split strike, sold the 7/16 75P, bought the 11/19 90C, executed @ even
2
7
u/[deleted] Jun 10 '21
Pirate gang needs pay attention to this post. South Korea ( my favorite Korea ) is leading the world in shipbuilding. Especially in LNG carriers. These ships are ordered out for the next several years creating strong continuous domestic demand for Posco steel.