Big Percentage Gainer

I was able to take advantage of the BHP Billiton Limited (BHP) initial offer on Potash Corporation of Saskatchewan (POT) and sell my call for $31.00 for a 621% return in one week. The offer was rejected and now BHP is going the hostile takeover route, which has pushed the price on POT even higher. This will be a very interesting story to follow as new developments continue to occur.

In the meantime, I have purchased 1 Oct 2010 $50.00 call on X at $2.31, which is currently up in price.

What's up Dell

As I am writing this blog this morning I have noticed that Dell (DELL) is up pre-market by 0.24 to $28.28. There have been some rumors and a few shows which have mentioned a possible bid for Lexmark (LXK) from Dell. Of course this is all rumorville, but rumors are what drives up stock prices even though they may be unfounded. Rumor or not, LXK is also up pre-market 1.48% or 0.65. I plan on keeping on top of this rumor and will post later as more information good/bad reveals itself. In my mind I'm hoping this is takeover becomes a reality because this is something that Dell needs to help it compete with others. For full disclosure, I happen to own some DELL, but at much higher levels than this, so I am actually in the red with this stock. If anyone has additional information please leave comments, so that all may benefit.