Selling CCJ puts for income.
Cameco Corp. (CCJ) is a uranium miner benefiting from higher energy prices and a shift toward nuclear power production.
The stock pulled back to start the year but has since rebounded. The Russia / Ukraine conflict is helping to drive home the necessity of a diversified energy base which ultimately could drive much more demand for nuclear power.
By selling the April $23 puts near $1.20, we’re able to collect an annualized yield near 44%, while also giving us roughly $2.00 per share in cushion between the current market price for CCJ and our strike price.
- Sell (to open) 3 CCJ April 14th $23 puts
- Limit: $1.20 or more
- The new position will represent roughly 7.2% of our model.
- 10:35 Executed
- Sold 3 CCJ April 14th $23 Puts @ $1.30