Potash (POT) is up $1.17 to $86.76 and January 2010 puts at the $55 strike are seeing increasing interest. More than 12.7K traded, compared to open interest of 1,364. Today’s actvity includes several large blocks hitting at the offer for between $4.30 and $4.50 on the PHLX. Looks like premium buyers opening new positions–some possibly tied to shares. The Ag/Chem ETF (MOO) moved to 6-month highs earlier and is testing the upper end of its recent range. Briefing mentions takeover chatter on POT today.