Sell 1/2 the KEPCO Options for 33%

Our $25 calls on KEPCO are up 33% today. Sell half your contracts for a 33% gain in about three weeks. Hold onto the remainder of the position as KEP could rally further with oil prices settling so low. The company would presumably have more pricing power and higher profit margins in the long term, and of course our play here is wind energy in China, which is exactly the kind of R&D and speculative development KEP will be better armed to do with more cash on hand.