Trading Update: POT

February 26th, 2008 | Posted in Stocks

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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.

Jump In?

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.

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4 Comments

  1. 1
    Dan // February 27th, 2008 at 1:33 pm

    Nice trade. That’s a pretty heft profit you got there lol.

  2. 2
    No Fee ATM // March 14th, 2008 at 1:22 am

    Hee hee…I like that ticker symbol. It has been a while since I have played around in the stock market, but if I didn’t know any better, I would be tempted to think that this company is involved with the cannabis or hemp industries.

  3. 3
    mike // March 16th, 2008 at 12:20 am

    how about COIN, converted organics
    another Ag in play.

    it’s more volatile than POT, potentially higher profit

  4. 4
    Dax Desai // March 17th, 2008 at 8:19 pm

    POT is a stronger company in my opinion. COIN is good for trading, but my POT is doing well for me.

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