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« Mickey Fulp, Mercenary Geologist: The Demand is There | Main | Cameco Corporation Options Trade Update »

Cameco Corporation Options Trade Update 22 June 2009

Just a quick note to update you on the progress of June 09 $25.00 Puts that we purchased for $1.40 per contract (CCJRE) on Cameco Corporation (CCJ) recently. Our assessment was that Cameco had ran ahead of itself and that a pull back was imminent.

The trade started well when it closed up 40% the following day, however, Cameco’s stock price then recovered resulting in the value of the Puts dropping back to trade at $0.15 before climbing slightly on Thursday to trade at around $0.40 as the stock price dipped below our strike price of $25.00, however Cameco recovered on Friday and these contracts expired worthless. So its back to the drawing board for us.

Options are extremely volatile so please limit the amount of cash that you place into this sort of trade.

Cameco Corporation has a market capitalization of $10.01 billion, a 52 week high of C$43.60 and a 52 week low of C$11.78, average turnover is was 3.18 million shares and trades and closed on Friday at $25.50. Cameco trades as CCO on the Toronto Stock Exchange and as CCJ on the New York Stock Exchange.

Have a good one.

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Reader Comments (2)

Congratulations! You guys do have the guts to post and admit your horrible recommendations - and their numbers are leigon- which is more than I can say for most know-it-all websites.

You still SUCK, of course, but, like I said, at least you admit it. Good day.

June 22, 2009 | Unregistered CommenterJoeBronx

Thanks Joe, we were wondering who would be in first! To make matters worse CCJ dropped 8% today which would have placed us in the money - but there you go and we bombed. Must try harder next time!

We will continue to publish every trade we make, the good, the bad and the ugly, regardless of the outcome.

June 22, 2009 | Unregistered CommenterUranium Stocks

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