Uranium rocketed today with issues up in double digits. Sprott Uranium Trust continues to take uranium off the market at a dizzying pace. We will be looking to acquire more Denison Mines ($DNN) on Monday. Here we go.
Not much happening today. Bitcoin hangin’ in. Uranium too. Wrote some calls. Call me, maybe.
Uranium continues to shine as Sprott removes supply from the market at breakneck speed with their Sprott Uranium Trust vehicle. It will be interesting to see how spot moves next week – will it continue to march higher or take a breather?
In other news, bitcoin is back over $50K, gold and silver got a pop and will oil become more volatile with these missile attacks in Saudi Arabia?
Uranium won big today thanks to $SPUT and friends and the Utes are winning tonight. What a day.
Here we are in September of 2021. Uranium had some pretty good follow through from yesterday. Bitcoin is hanging around at $47K and Oil is at $68 / barrel. Today we wrote some Bull Calendar Spreads on Energy Fuels ($UUUU) and Denison Mines ($DNN). Given the bullish momentum, we are going to hang onto the calls we are generating into the fall. For uranium the future’s so bright, gotta wear shades.
Uranium Spot Price continues to climb as it nears $35 / pound. This is in part thanks to the Sprott Physical Uranium Trust (SPUT) which continues to act more more like SPUTnik – taking pounds off the market at rocket speed. We are doing our part by purchasing more Energy Fuels ($UUUU) and Denison Mines ($DNN) -mostly in the form of Bull Calendar Spreads. Earth below us…. drifting, falling…. floating weightless. To the moon, diamond hands.
Mondays aren’t half bad when you write covered calls – they are more than just another day. They are a just another profitable day.
Today we wrote bull calendar spreads with the October / December paper on Energy Fuels ($UUUU). We also wrote some bull calendar spreads with the weeklies on Riot Blockchain ($RIOT) and Innovio Pharmaceuticals ($INO). We picked up a few $DNN and would love to see our bids get filled at $0.10 for the October $1.50 paper there.
The year was 1979, Michael Jackson was climbing the charts with hits like “Don’t Stop Til You Get Enough” and interest rates were climbing as well to as high as 11.2%. We haven’t seen that kind of inflation for decades… until recently. I was listening to a podcast with Jonathan Davis (shown here below) where he talked about a new era of rising rates. I tend to agree. We started the first leg up, we are pausing and now heading back up again.
As for our positions, we got called away on Riot Blockchain ($RIOT) and Innovio Pharmaceuticals ($INO) this week. We will get called away on Transocean LTD ($RIG) next Friday. These positions are starting to move, so we will give them room to run with deep out of the money calls and options on the flipside as they do.
Innovio Pharmaceuticals ($INO) popped today on news that it has received authorization to proceed with Phase 3 trials from Brazil. Muito Bom.
Today we wrote some bull calendar spreads on Energy Fuels ($UUUU) and Denison Mines ($DNN) and bought some Canaan ($CAN)
Some days I feel like that guy on Swamp People – who sets hooks with bait on them for gators and then checks and resets em day after day… only I set the bull and bear traps with bid and ask price spreads to capture implied volatility in the form of covered calls and cash covered puts.
Today I bought some Denison ($DNN) and did some bull calendar spreads on Energy Fuels ($UUUU). Most of my hooks came up empty.