Covered Calls Silver Uranium

Covered Calls on First Majestic Silver ($AG) and Trump’s 2021 Budget for Uranium

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.


US Nuclear Fuel Working Group recommendations #uranium

Rumor has it that the US Nuclear Fuel Working Group recommendations on uranium will be released next week as a summary document. Also, Trump’s defense spending budget plan should be released on February 10th, which is told to contain a $150M line item to purchase US-sourced uranium. Looks like we may see some action next week in the uranium space.