Trading Update: POT
- 4 Comment
On Feb 15 I recommended buying Potash of Saskatchewan (POT) Calls. I picked up 3 Sept 145 Calls @ $29.50 that day.
Today those calls are trading at $37.50 for a gain of 27% in 8 trading days. I have a paper profit of $2,400 on an initial $8,850 investment. I plan on holding these until June or so.
Don’t chase the stock, but do try to buy on dips as I recommended in my prior post. It doesn’t offer you many chances, but you may get an intraday dip opportunity. I’m still bullish overall and would recommend purchasing a longer-term Call instead of the actual stock for some added punch to your return. For example, had I purchased the stock I would have realized a $350 gain or 11.8% vs $2,400 or 27% on my Calls.
Pick or Pan?
So far this has been a pick, but until I cash out it is only a paper gain.