Today I wrote some out of the money covered calls on Cameco ($CCJ) and bought Cameco, Energy Fuels and Metalla Royalty and Streaming. Have a great night.
Today I bought back Cameco ($CCJ) at a slight discount which was called away last week. I sold some First Majestic Silver Feb 28 Out of the Money $10.50 Calls and some Innovio Pharmaceuticals Mar 20 Out of the Money $10 Calls. I used the proceeds to buy more First Majestic Silver, Alexco Resources and Energy Fuels. Have a Great Night.
Happy Valentines Day and Options Expiration Friday. Today I bought some Energy Fuels and some Denison Mines.
Also, I had a bunch of weekly Covered Calls on Cameco and First Majestic that all expired today out of the money. Both came close to being called away earlier on in the week, but they pulled back and finished the week out of the money.
Have a great night and a great weekend.
Today I bought some more First Majestic Silver ($AG), Alexco Resource Corp ($AXU) and Denison Mines ($DNN) with the proceeds I received from selling out of the money weekly covered calls of First Majestic Silver ($AG) yesterday. They were all in the red and on sale.
Cameco ($CCJ), Energy Fuels ($UUUU) and other Uranium names had a big green day today, perhaps on the back of some new news out of the White House that the Nuclear Fuel Working Group has proposed a 10 year plan to purchase 150M pounds of uranium per year for the next 10 years. I tried fishing with some out of the money covered calls on the Cameco ($CCJ) weekly, but no one bid my ask… such is life.
Shipping also had a good day today and most issues were solidly in the green including Nordic American Tankers ($NAT).
As always, buy the fear, sell the greed… buy the red, sell the green. Have a great night.
Today I wrote some out of the money weekly covered calls on First Majestic Silver ($AG) as it was green and the calls were being bid up by the greed crowd. There wasn’t much in the red to buy from the fear crowd so I just sat on the cash proceeds for now.
Trump’s 2021 Budget was released today and he has allocated $150M towards domestically sourced uranium for nuclear defense needs. Rumor has it that this is just the start of the budget plans for uranium going forward and there will be such yearly purchase installments going forward as part of the Nuclear Fuel Working Group. But again, this is just rumor at this point.
Remember, buy the fear, sell the greed. Have a great night.
Happy Options Expiration Friday. Today my weekly covered calls in First Majestic ($AG) and Cameco ($CCJ) both expired out of the money. First Majestic had a bit of a run earlier in the week, however ultimately it failed to sustain the part as silver came under pressure later in the week. Cameco had its quarterly conference call this morning. Things are looking up for the uranium sector as a whole, but the turnaround is slow going. Its definitely a market for the patient. Once uranium hits $30 / lb in the spot market things should start to run a bit quicker. Looking forward to more writing opportunities next week. Today I also bought more Energy Fuels ($UUUU) and Denison Mines ($DNN) as uranium plays were deep in the red and certainly on sale. Have a great weekend!
First Majestic ($AG) was green today so I wrote some out of the money covered calls (sell into greed). I used the proceeds to buy more Alexco Resources ($AXU), Energy Fuels ($UUUU) and Denison Mines ($DNN) which were all having red days (buy into fear). Have a great night.
Today I mostly sat on my hands, but bought some more Denison Mines $DNN and went fishing with some out of the money covered calls on First Majestic $AG and Energy Fuels $UUUU at the ask. No one took the bait. There’s always tomorrow. Write Green and Buy Red. Or, put another way: Write the Greed, Buy the Fear. Have a great evening.