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Covered Calls Shipping Silver Uranium

Silver, Uranium, Shipping and the Nuclear Fuel Working Group

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.

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BioTech Covered Calls Shipping Uranium

Inovio Pharmaceuticals ($INO) Cameco ($CCJ) Nordic American Tankers ($NAT) and Energy Fuels ($UUUU)

Today I sold some Inovio Pharmaceuticals ($INO) with the stock being temporarily overbought because of the coronavirus scare. Its had an insane run! I still have some Feb 21 covered calls that are now in the money because of the recent run up – we’ll see how those play out as they near expiration on February 21st. I used the proceeds to purchase more Energy Fuels ($UUUU) – a smaller US-based uranium company. I also wrote some out of the money covered calls on Cameco ($CCJ) with a Feb 7th expiration and a $9 strike price. I used the proceeds to purchase more Energy Fuels ($UUUU). Energy Fuels has been absolutely hammered here, and while it may go lower, it feels like capitulation. I sold some out of the money Feb 21 $5 covered calls on Nordic American Tankers ($NAT) and used the proceeds to buy additional shares of Nordic American Tankers ($NAT) to increase my position there. I don’t believe the tanker bull market is finished and tankers seem to be oversold here with the recent coronavirus news and its impact on China. We’ll see what happens there. All eyes will be on the FED tomorrow as they give their statement to the market.

Write/Sell the Green. Buy the Red.

Have a great night.