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Potash Corporation of Saskatchewan Inc. Message Board

  • pandorabelle pandorabelle Feb 20, 2013 12:49 PM Flag

    Anyone Selling Covered Calls?

    Interested to hear thoughts on strategies, strikes and expirations for the near term up to about 6 months.

    Hi Ralph, Genie, Abba, Stain, Rich, ExFert and Elly..and all.

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    • chemisttx@sbcglobal.net chemisttx Mar 30, 2013 4:25 PM Flag

      PANDY fyi I have not sold any cover calls yet,,,my "rule of thumb' is around six months out and $5 over the current price looking at todays that would be Sept and the 45's for .42 if I remember correctly,,,,would net out around $1200,,,I would like a higher stock price first,,,,42-43 range, also I have bought back the options on the close day if I stilled liked the stock and if need be rolled out again....just FYI...Happy Easter....if that applies..

    • Hi Pandy,
      I've experienced a number of message board glitches, I've tried to reply to Abbaman's most recent post on this thread (regarding Patton), but Yahoo will simply NOT allow me to post it. I gave up after the 3rd try.
      (Abbaman if you're out there... I still love the way you write and I miss all your intriguing posts:-)

      Pandy, regarding your comments about Cyprus, I would guess that this would cause (some) investors to further distrust their European financial markets/banks. Once those additional funds leave Europe they may find a home in the Emerging Markets and/or North American stock markets. I am guessing this market still has more room to move up, especially with interest rates being close to nothing.

      But hey... time will tell how all this unfolds.
      Good luck everyone....
      Elly

      • 1 Reply to felicia1766
      • Elly - I've been experiencing glitches, too, but they are intermittent, which makes them more frustrating. Confidence is definitely eroding in the EZ financial system, but adding to that will be Germany contracting and potential (likely?) ramifications from Russia on the decision to steal money from their accounts.

        Even so, the disconnect has allowed bad news to be treated as if it was good news--but it can't continue indefinitely.

        Nice to hear from you - ! :-)

    • Hi Pandy,
      I haven't spent a lot of time on this board recently (or any board for that matter). I dropped by this evening when I saw that the share price had fallen below $40.00. Mr.X got me hooked on CF Industries and I haven't been able to shake the habit. (ha!) But hey, at this price, it's sure tempting to buy some POT call options. On another note, I hope you're well. You and the rest of our old "board groupies" provided me with a quite a few laughs and some interesting insights.

      • 1 Reply to felicia1766
      • Hi Elly - the boards are no fun anymore, and the new format almost seems to "fertilize" the growing spammer weeds. POT has been so range-bound for so long now that choosing strike prices for covered calls has more risk associated in the event of an unexpected upside move.

        I'm still waiting for the market to correct, but the Fed has another agenda. The disconnect is frustrating. I recently bought some long AAPL calls, and I have actual VIX calls (not any of the associated ETF's) for May and August.

        The Cyprus news has me concerned for the implications and potential precedent it sets. Even if they do not steal depositors' money, the fact that they even considered and proposed it is dangerous. If the government can simply take peoples' money...it's time to find John Galt.

        I hope you're doing well, and that all here are finding ways to gain yields - somewhere. There's still MJNA--which has gone from .04 in August to .30 now (after a .50 pop). It's still under the MM's radar, but not for long. The medical (and recreational) marijuana industry is about to bloom...and those on board can definitely get high. :-)

        Best to everyone.... Pandy

    • Hey Pandy:

      I was selling weekly covered calls but someone took my shares away to grab the dividend.

      Of course that was at a price of $42.50 so I am not missing the dividend so much (lol)

      Will probably buy back into this stock in the next week or two (after sequester gets resolved).

      • 1 Reply to ralphjlindblom
      • I can't do anything about the POT Board having become less fun than heretofore. However, I have been thinking about a POT breakout from its current range. Of course there is no reason to expect it to break out but that is just it. Precisely because there is no reason to expect it to break out, it might just well do it. Now before writing me off as just another crazy man, magical thinking poster, consider the following, albeit having nothing to do with the market.

        In Ladislas Farago's biography of General George S. Patton, "Ordeal and Triumph," there is a scene, which is also depicted in the movie, "Patton", in which Patton muses, in the horribly cold winter of 1944, with allied and enemy forces hunkered down due to the cold and snow, that German forces had not launched a winter attack since Frederick the Great of Prussia in the 18th Century did so at Leuthen. Which is why Patton suddenly believes that that is exactly what the Germans are going to do and commences a redeployment of his 3rd Army to anticipate precisely such a move. And of course, the "Battle of the Bulge", AKA the Ardennes Offensive, did indeed prove that on that occasion General Patton had been clairvoyant.

        And so here we are, with winter's chill still upon us, and POT shows no sign of life, with share volumes down and not much happening that can offer even a glimmer of hope. Perhaps POT, out of nowhere, will suddenly come to life and attack this market by going up for a change with a BAM.

        Now you all can see what happens when one has too much time on his hands over the weekend and is over educated.

    • Welcome back.

      As you know, I'm another holder. Haven't bought or sold since 2008, don't do options but do think about them. Thanks for thinking about me.

      I am afraid, after reading some posts, that POT is a SPAM (sorry, scam). Where is yaro when we need him, he originated the 'potash is a myth' theory of crop nutrition.

      • 1 Reply to rich_thepot_head
      • Hi Rich... I miss the color this forum had before the format changed. I still think for all the POT longs selling covered calls is a great way to generate some income through the sideways trend, but understand that that decision is very personal. Thank God the spammers have taken up residency here to remind everyone to run from this SCAM of a company. ;-)

    • I'm a buyer, and holder, and dividend reinvestor. My DRIP would have certainly netted me more shares today than two weeks ago.

    • There must be a mistake for me to have been contacted regarding "strategies, strikes and expirations." I don't do such things. All I do is buy and hold. I know you knew that. You were just being polite by including me in the message.

    • chemisttx@sbcglobal.net chemisttx Feb 20, 2013 3:10 PM Flag

      Not with it falling so bad,,,would rather catch an UP day

 
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