Buy Call CCJ

September 15, 2023
Sell a Third of Existing Position: Sell a Third of Your CCJ March 40 Calls for $5.35 or more.

Very quickly our CCJ trade that we bought yesterday is at a potential profit of more than 20%. And while I think the stock is going higher, let’s stick to the playbook, lock in a quick profit and then let the balance of the trade run much higher.

To execute this trade you need to:
Sell to Close a Third of your CCJ March 40 Calls

As is always the case when we sell a piece of our position, we hope this initial sale is a mistake and the stock and our calls trade much higher.

September 14, 2023
Buy the Cameco (CCJ) March 40 Calls (exp. 3/15/2024) for $5 or less.

Cameco (CCJ) and all uranium plays have been on a steady run higher for the past several months. And yesterday as the sector continued its breakout, traders again piled into calls looking for more upside. Here are those trades:

Buyer of 20,000 Cameco (CCJ) October 42 Calls for $0.69 – Stock at 39 (uranium play)

Buyer of 11,000 Nexgen Energy (NXE) February 8 Calls for $0.35 – Stock at 6 (uranium play)

Buyer of 3,500 Uranium ETF (URA) April 30 Calls for $1.50 – Stock at 25.5 (uranium play)

Let’s get involved with a CCJ March call position that is, in my opinion, very inexpensive given the momentum and potential for an explosive move higher.

To execute this trade you need to:
Buy to Open the CCJ March 40 Calls

The most you can lose on this trade is the premium paid, or $500 per call purchased.

The risks I see in this trade are general market risk, as well as the possibility that we are top ticking the sector. And let me be clear, there is real risk as commodity-related plays can get red hot, and then ice cold, very quickly.

That being said, I really like this option activity yesterday, as well as the inexpensive price of the March 40 call, and am going to add CCJ to the portfolio today.