A busy options expiry at the end of a choppy week sees lots of adds especially in uranium and nuclear and a few sales in alternate energy. A bit of a step back week for uranium explorers otherwise ![May15Trades.png](https://files.peakd.com/file/peakd-hive/carrinm/23yJXfEJZC2VsQm1DDqVa8tujVdh4sgku9EGDoKoXoceRKu5KJhZ6HUDq8hw7TPTZPBMS.png)

Portfolio News

In a week where S&P 500 rose 0.2% and Europe dropped 2.64%, my pension portfolio dropped 2.35%. The drop driven largely by the pullback in commodities especially gold, silver and uranium. Big movers of the week were Miramar Resources (M2R.AX) (50%), Genmin (GEN.AX) (33.3%), Pursuit Minerals (PUR.AX) (30.9%), Tokai Carbon (5301.T) (28.6%), Lifeist Wellness (LFST.V) (25%), Fermi (FRMI) (24.5%), Strike Energy (STX.AX) (22.7%), Sumitomo Chemical Company, (4005.T) (22.7%), Mitsubishi Steel Mfg (5632.T) (18.2%), Orezone Gold Corporation (ORE.AX) (16.4%), Inghams Group (ING.AX) (15.3%), Fortuna Metals (FUN.AX) (13.6%), OD6 Metals (OD6.AX) (12.9%), Honda Motor (7267.T) (12.7%), Lithium Universe (LU7.AX) (12.5%), American Rare Earths (ARR.AX) (12.3%), VHM Limited (VHM.AX) (11.3%), RocketBoots (ROC.AX) (10.7%), Solis Minerals (SLM.AX) (10.5%), Broken Hill Mines (BHM.AX) (10.2%), Evolution Energy Minerals (EV1.AX) (10%) A shorter 21 stocks making the big movers lists. The big sell off on Friday (May 15) took a big toll. Big themes are here - from the top: gold/silver mining (3 stocks), alternate energy (5 stocks), marijuana (1 stock), nuclear (1 stock), rare earths (3 stocks). Good to see a couple Japanese stocks in the list - been a long slow road to recovery ![May15News.png](https://files.peakd.com/file/peakd-hive/carrinm/EocDFc4cjzJ2EjiBt7KK4pbA1ts9aM8vybQSXYqXb9vR5sTXxai6o3J15PPvSFz5CNw.png) The headlines are a bit all over the place as the markets bounce around one day ignoring the war, the next worried about oil and the war. What was moving things lower was prospect of a UK PM leadership challenge and sagging gold and silver prices in Friday trade **Crypto Drifts** Bitcoin price pushed lower all week finishing the week 4.8% lower than the open with a peak to trough range of 6.7%. ![May17BTC.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23w3EnXc91dJbTjk8pM2jmuBw7grTSowfKq6QPnmApBZVnVNK2BVUFqLNpbmtb61fdGDa.jpg) Ethereum price did much the same finishing the week 9% lower than the open with a peak to trough range of 10.7% abd testing support from a weekly chart way back ![May17ETH.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23wXQhLhKeZ8pCy6RZM4wqhLbYDpTQX3shgUG8nL7tGcPicXRQFmvGN9SLunWb8zS9s9i.jpg) Showing signs of life was Chiliz (CHZBTC) with a 19% pop - looks like the top of the consolidation range but there is new markets news - USA entry in Football World Cup year ![May17CHZ.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23viTJdMr5zXNKwKtPBm32NMPXYpsGPmTfqn3JVTdeficiVuE6yd5qdtYbM9D5XfGmZba.jpg) Also showing life is Injective Protocol (INJBTC) with a 49% pop ![May17INJ.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23wXQUpZcxJxtf2gEmR3sRxhNpsbpz2koV57fGnxqciVEQHVDYwnArU74fW94TsaHttE2.jpg) **Nuclear Energy Holdings** An active options expiry adds quite a few holdings and takes overall total back of $1million. Portfolio value drops a whopping 9.2% ![May15NuclearChange.jpg](https://files.peakd.com/file/peakd-hive/carrinm/EoKCXamb5QQUcTf1WUXPHD5dybQLCZa3xgmajKoZewd8HGLFzJYdYRDZ7LZ6egigx4s.jpg) A few changes in rankings of the Top 10 with the additions. Denison Mines Corp (DNN) rises 2 places to slot 2. Cameco Corporation (CCJ) comes into Top 10 in slot 5 and EU comes into slot 8. Dropping out the Top 10 are Silex Systems (SLX.AX) and NuScale Power Corporation (SMR). Share of top holding Uranium Royalty Corp (UROY) drops below 10%. Share of portfolios rises 2.5 points to 31.4% ![May15Nuclear.jpg](https://files.peakd.com/file/peakd-hive/carrinm/245TQxCuKWkzUfoY22EnsQTCvAfKegvCttyPKH4yCW36yRe9ekwUXKMS1cb2NNXSbu7a4.jpg) Holdings by Stage sees key changes with the additions. Physical drops 2.4 points, Producing goes up 0.7 points, Near Producing drops 1.3 points, 2027 goes up 2.8 points, Explorers goes down 1.1 points, ETFs go up 4 points, Enrichment is down 0.7 points and Technology goes down 1.9 points ![May15NuclearbyStage.jpg](https://files.peakd.com/file/peakd-hive/carrinm/EocDNhDRc2kURHjefei1UTNwBtPpSy6Y1tiQXauSm1gb6kTSJkYs1ruasAUAFn54eKN.jpg) **Alternate Energy Holdings** A few key sales and a few small additions through options assignment and a 4% drop in valuations ![May15LithiumChange.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23viTJdMikNzo5mSmx3MhCxe99wahiRsTw42MtAABr5ZdoP9VarW2mrGA78YUAcNydjfp.jpg) Two key changes with sales of two Top 10 stocks, Invesco Solar ETF (TAN) and iShares Global Clean Energy ETF (ICLN). Westwater Resources (WWR) and Largo Inc (LGO) change places in slots 4 and 5. PLS Group (PLS.AX) rises one place to slot 5. QuantumScape Corporation (QS) drops three places to slot 6. Gevo, Inc (GEVO) and Frontier Nuclear and Minerals (FNUC) and Lithium Americas Corp (LAC) come into Top 10 in slots 7, 9 and 10. Share of Others drops 1.8 points to 16.9%. Dropping out of the Top 10 but still held is Pilbara Gold (PGL.AX). Share of portfolios drops half a point to 5.2% ![May15Lithium.jpg](https://files.peakd.com/file/peakd-hive/carrinm/245J3rSXJ9SBg65TLFQUu1mfmazEVj5NMPjXqMmYkaTpJKS7wAfhhZWstvuoB1ybNj4NR.jpg) **Precious Metals Holdings** A few modest additions which balance out the 3.5% drop in valuations ![May15PreciousChange.jpg](https://files.peakd.com/file/peakd-hive/carrinm/EoeLeoX8RQBLve56wQgvaoGRCmuF4qbfhKi19Tc8hoby3CK2uxFvowyAcvvDiw66Lo4.jpg) A few small changes in the mix of holdings with Barrick Mining (B) swapping places with Alamos Gold (AGI) in slot 7. GoGold Resources (GGD.TO) rises one place into slot 9 and Newmont Corporation (NEM) comes into the Top with the addition there. Dropping out the Top 10 is Pilbara Gold (PGL.AX). Share of Others rises 2.6 points to 31.4%. Share of holdings rises 0.4 points to 11.2% ![May15Precious.jpg](https://files.peakd.com/file/peakd-hive/carrinm/244or1vDjN8wHpSuRk919CjPzqiZWoLi4rqXsPtcazwE5HRSsFFyY3ogvPsEK8odKw4yw.jpg)

Bought

**ACDC Metals** (ADC.AX): Rare Earths/Gold. Pending order to add a 2nd parcel at a lower entry than the first tranche. Trade rationale set out in [TIB807](https://mclnks.com/tib807) was relative valuations of two businesses developing mineral sands projects in Goschen, Victoria - then find the company acquired gold tenements in Nevada and have started work soon after acquisition was complete. >Immediate start to exploration at ACDC Metals new gold and silver project in Nevada, USA. Airborne Geophysical survey (magnetics and radiometrics) now completed. Processing and interpretation of geophysical data in progress, with aim of defining priority drilling targets Deployed some of proceeds of Atha Energy Corp (SASK.V) sale below in a few other uranium explorers based on AI suggestions. **CanAlaska Uranium** (CVV.V): Uranium. >CanAlaska is a “project generator” with extensive land holdings, success identifying uranium exploration targets and making new high-grade uranium discoveries in the Athabasca Basin. There are 6 projects in the Athabasca Basin located in proximity to Cameco (CCJ) and Denison (DNN) mill assets. ![May11SASK.jpg](https://files.peakd.com/file/peakd-hive/carrinm/48TpDjvycZSBQTj3uusr2sg2WWCoHMbevfLDXWqgjS2LqMiS2a6Y4cjYLzm9yppDe8.jpg) This chart from Atha Energy Corp (SASK.V) was part of the idea - next stock down the table **Myriad Uranium Corp** (M.CN): Uranium. Watched interview with Thomas Lamb, CEO where he discussed the new drill program in Wyoming, the sale of New Mexico assets and the prospect of technology companies moving hard in the junior mining space. Got to say the discussion on the Copper Mountain, Wyoming project was confusing - was not really clear if they were trying to confirm the historical data or to widen the resource. The good news is the sale of Red basin, New Mexico did generate cash to fund the drilling. **Denison Mines Corp** (DNN): Uranium. Followed an AI suggestion to add a small holding In pension portfolio. Wrote covered call for 1.3% premium with 6.9% price coverage - 4 days. Was assigned on sold put in personal portfolio - Breakeven $3.47 vs $3.28 close (May 15) - two cycles. In managed portfolio - breakeven $3.27 vs $3.28 close (May 15) - two cycles. **Noble Plains Uranium** (NOBL.V): Uranium. Scaled into holding In pension portfolio. See [TIB807](https://mclnks.com/tib807) for rationale. **Power Solutions International** (PSIX): US Industrials. Company announced earnings which disappointed the markets - sales in oil and gas sectors sagging with high oil prices. Market punished the stock at one stage down 50%. This exposes the pension portfolio to a sold put at an ugly strike. Sense is the market over-reacted. Bought a parcel of stock in extended hours to average down the sold put which will get assigned at expiry. Wrote covered call for 1.4% premium with 25.8% price coverage - 3 days to expiry. Why buy more? Average down entry price and my idea source likes the promise of the business > The pattern is clear, and strikingly similar. The market is not disagreeing with the demand story. It is laser-focused on margin compression and earnings quality, and it keeps finding reasons to worry. A few words from Swiss Transparent Portfolio after the last earnings (not this one) from "the beating heart of America’s data center power buildout" (their words). In regular hours with price opening at $41.10, put in place an August expiry 45/55/35 call spread risk reversal. This offers maximum profit potential of 251% for a 33.8% move in price. The sold put fully funds the call spread with 14.8% price coverage. Breakeven on sold put should it be assigned is $32.11. ![May13PSIX.jpg](https://files.peakd.com/file/peakd-hive/carrinm/EoEwo1WBAVkaipUyq6cTx7sLvrkTWeDjPyS539NzLe42MLLJSzxSTUgWQGWnDicMuRt.jpg) Let's look at the chart which shows the bought call (45) as a blue ray and the sold call (55) as a red ray and the sold put (35) as a dotted red ray with the expiry date the dotted green line on the right margin. At trade time (May 13), price was just below the bought call strike (45). Trade idea is simple - recover half of the gap down and hold above the bottom support level (lower red line) - one green arrow price move will do it. Those are little green arrows. A bunch of assignments on sold puts - aided and abetted by a down day in on options expiry day. **enCore Energy Corp** (EU): Uranium. Assigned In personal portfolio on sold put - one tranche assigned early, the other at expiry. Breakeven $1.50 vs $1.57 close (May 15) - 4 cycles. In managed portfolio - breakeven $1.56 vs $1.57 close (May 15) - 6 cycles. In pension portfolio - breakeven $1.10 vs $1.57 close (May 15) - 6 cycles **IsoEnergy** (ISO.TO): Uranium. In personal portfolio. Breakeven $14.41 vs $15.47 close (May 15) - one cycle **Deutsche Bank AG** (DBK.DE): German Bank. In personal portfolio. Breakeven €25.72 vs €26.70 close (May 15) - three cycles. In managed portfolio - breakeven €26.24 vs €26.70 close (May 15) - one cycle. In pension portfolio - breakeven €26.54 vs €26.70 close (May 15) - two cycles. **Barclays Group** (BARC.L): UK Bank. In personal portfolio. Breakeven £4.13 vs £4.23 close (May 15) - two cycles **Lloyds Banking Group** (LLOY.L): UK Bank. In personal portfolio. Breakeven £0.95 vs £0.94 close (May 15) - one cycle. In managed portfolio - breakeven £0.97 vs £0.94 close (May 15) - two cycles. **NatWest Group plc** (NWG.L): UK Bank. In personal portfolio. Breakeven £5.71 vs £5.61 close (May 15) - two cycles. In managed portfolio - breakeven €5.79 vs £5.61 close (May 15) - one cycle. **Baker Hughes Company** (BKR): Oil Services. In personal portfolio. Breakeven $64.01 vs $64.12 close (May 15) - one cycle **Cameco Corporation** (CCJ): Uranium. In personal portfolio. Breakeven $113.18 vs $107.51 close (May 15) - one cycle. Never a problem owning Cameco. **iShares U.S. Regional Banks ETF** (IAT): U.S. Regional Banks. In personal portfolio. Breakeven $55.42 vs $55.41 close (May 15) **The Mosaic Company** (MOS): US Fertilizer. In personal portfolio. Breakeven $21.19 vs $21.76 close (May 15) - two cycles. In managed portfolio - breakeven $22.00 vs $21.76 close (May 15) - one cycle. **NexGen Energy** (NXE): Uranium. In personal portfolio. Breakeven $11.45 vs $11.24 close (May 15) - one cycle. Covered call will close that gap in one go. **Westwater Resources** (WWR): Graphite. In personal portfolio. Breakeven $0.52 vs $0.60 close (May 15) - 4 cycles of sold puts. **iShares MSCI Brazil Capped ETF** (EWZ): Brazil Index. In managed portfolio. Breakeven $38.55 vs $36.23 close (May 15) - one cycle. **VanEck Uranium and Nuclear ETF** (NLR): Nuclear Power. In managed portfolio. Breakeven $122.61 vs $129.68 close (May 15) - one cycle - a good start to a new holding **Sprott Uranium Miners ETF** (URNM): Uranium. In managed portfolio. Breakeven $62.64 vs $60.15 close (May 15) - 4 cycles. Going to need a long hold **L'Air Liquide S.A.** (AI.PA): Specialty Chemicals. In pension portfolio - breakeven €175 vs €174.50 close (May 15) - three cycles of credit spreads/ Timing works with stock dividend ex date June 8 - adding another 2.1%. Was the sold put leg of a 180/170 credit spread **Gevo, Inc** (GEVO): Specialty Chemicals. In pension portfolio. Breakeven $1.71 vs $1.68 close (May 15) - on cycle **Newmont Corporation** (NEM): Gold Mining. In pension portfolio. Breakeven $109.11 vs $109.06 close (May 15) - one cycle - a new position **U.S. Gold Corp** (USAU): Gold Mining. In pension portfolio. Breakeven $17.06 vs $15.89 close (May 15) - one cycle. A hard start

Sold

**Atha Energy Corp** (SASK.V): Uranium. Watched interview with CEO, Troy Boisjoli. Another confusing interview - what is clear is the project is standing on a substantial resource. What is not clear is the chances of getting to development - no PFS yet. >ATHA holds the largest prospective land package in the highest-grade uranium districts in the world – 3.8 million acres in the Athabasca Basin, 3.1 million acres in Nunavut, and 399k acres in Newfoundland and Labrador’s Central Mineral Belt. Decided to lock in 38.5% blended profits on FIFO basis since March/June/July 2024 in pension portfolio and deploy elsewhere. Will retain a holding with a lower average cost. Interesting chart from their latest corporate presentation - stage of development and relative enterprise value. It does show the step up in value with the transition into development ![May11SASK.jpg](https://files.peakd.com/file/peakd-hive/carrinm/48TpDjvycZSBQTj3uusr2sg2WWCoHMbevfLDXWqgjS2LqMiS2a6Y4cjYLzm9yppDe8.jpg) **Halliburton Co** (HAL): Oil Services. Assigned on covered call in pension portfolio for 23% profit since February 2026 - drill, baby drill worked here **iShares Global Clean Energy ETF** (ICLN): Alternate Energy. Assigned on covered call in pension portfolio for 5.2% profit since February 2026 **Invesco Solar ETF** (TAN): Solar Power. Assigned on covered call in pension portfolio for 30.4% profit since November 2025. Maybe time to pick a stock or two from the Top 15. Income trades have added another 77% profit in the same time.

ASX Portfolio

The segment reports trading in ASX fractional share portfolio. Trade entries are made based on stock screens looking for undervalued stocks (price to book, price earnings, price to sales) that are showing technical signs of breaking a downtrend. Exits are made at 35% profit or 25% if 52 week high is lower than 35% advance. New buys are in $500 lots. Scale ins and top ups in $250 lots **New Buys** **Metro Mining Limited** (MMI.AX): Bauxite. ![May12MMI.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tmmT4FWwHpjXBfPohrJAr2fQU9vSVDhiDfJVqJjk2LxnzgtGkiTEiy5195QhQRmGTy4.jpg) Chart shows price in a consolidation range. If price follows a similar trajectory to the last breakout (the blue arrow) this will reach a 52 week profit target. Risk in the trade is largest customer base is China and United Arab Emirates - risk in China-US relations and the Iran war. **Scale Ins** **Austral Resources Australia Ltd** (AR1.AX): Base Metals. Chose to scale in holding as stock was on the big movers list last week. Averages down entry price and copper price is moving. **Top Ups** **Worley Ltd** (WOR.AX): Mining Services. Dividend yield 4.01%. ![May14WOR.jpg](https://files.peakd.com/file/peakd-hive/carrinm/Eo6SF4v7M5dzMpMbSvYEAR7U15uCyf4yxqXmwFXBm4uU1RGZVdm6vPGxFb4Vqvha2wJ.jpg) Chart shows price dropping below support and making higher low. there is enough headroom to make a 52 week high profit target though that would be at lower than the normal 25% average profit needed. ![May14WORvsMAH.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tSzLNbitQp5FtRkqKs5Hk7zJvbEThfGVcaHLHhR6in7Rvdb5uT7r6rwxyVQWTsdcfDm.jpg) Big gaps to the major competitors **Sold** **APA Group** (APA.AX): Utility. Closed out at 52 week high target for 25% blended profit since April/May 2024. **Dyno Nobel was Incitec Pivot Ltd** (DNL.AX): Fertilizer. Closed out at 52 week high target for 25.6% blended profit since August/September 2023/March/April/May 2024/June 2025. All tranches profitable. Transferred out some of the capital from this portfolio to personal portfolio - been a good run.

Shorts

**Pfizer** (PFE): US Pharmaceuticals. Exercised In personal portfolio on bought put leg of 26/24 ratio put spread. With close at $25.33 (May 15), trade is in-the-money and better than the $25.70 breakeven. ![May15PFE.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23twAKVLETaj93iqApvaV1rQFo6eqi2Y3R5QjFZeZMALXUC7Zp6FMUZHPR1FTEvbocbAC.jpg) Chart shows price chose to follow red price arrow scenario to go just below the bought put level. Exercise was after ex dividend date - so not needing to pay away the dividend amount.

Hedging Trades

**Vanguard FTSE Europe ETF** (VGK): Europe Index. With price closing at $85.79, bought put leg of 84/82 credit spread expired worthless in pension portfolio expired. Trade started life as a 87/84 ratio put spread to hedge Europe exposure. Closed out the bought put (87) when price plumbed below the sold put (84) and replaced it with a bought put lower (82) to protect the potential of an assignment on he sold put (84). Somehow managed to get the expiries mismatched. ![May15VGK.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tHbkihuAr4RKCBUZyy6GvkgPPybrKdSs8V8nuHsYnMY5tEnThE8mFmsZmys2P8T8ekk.jpg) Chart tells the story. Price did drop and dropped more than a red arrow price scenario which made selling the bought put (87) a profitable exit. What is left over is the sold put (84) - price is holding fine above that level and should be safe if there is another red price arrow move (the pink arrow is same size and is new on the chart). It is time to review the hedge needs - must be true as here was a CNBC article suggesting now is a good time to hedge (because implied volatility is moderate). ![May22Hedge.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23wgmayZLNsUY7z5zmDtqzPqWrkreN9Z91C7UiftmXqTREVdwJ3HyAGWkNjwX4yrSqz9p.jpg) https://www.cnbc.com/2026/05/22/stocks-continue-surging-to-record-highs-heres-how-to-hedge.html

Expiring Options

**Lightbridge Corporation** (LTBR): Nuclear Technology. 17.5/25/15 call spread risk reversal expired with price below the sold put strike in managed portfolio. Trade goes back to December 2025. As the sold put fully funded the call spread, can apply the series of sold puts from the last assignment - breakeven $7.67 vs $11.43 close (May 15) - 6 cycles - been doing this a while. ![May15LTBR.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tcNs5P31k8c4v5pQ6txN1ppj6GXzUcDfnJttFtLxxXCDWos4TY7y5EWVdpYkXbHx3qt.jpg) Chart shows price never got moving on any of the price scenarios - just tracked sideways for two months and then drifted lower. Maybe a trade ahead of its time. **Westwater Resources** (WWR): Graphite. With price closing at $0.58, sold put on 5/2 risk reversal went to assignment in personal portfolio. While the risk reversal was not fully funded, the cycle of rolling sold puts bought breakeven down to $0.49 - been a specific strategy on these low ticker stocks to use sold puts to find discounted entry levels. This is a hold for the long haul In pension portfolio a 2/5 call spread went to expiry - over time the call spread was fully funded by sold puts. ![May15WWR.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tSzLNbh8KeaKd2S2UkVE6v5EmBGNS6JswoLPPUkwFWfX7ZeyRoQFP55d3YFvACyvhLC.jpg) Chart shows the bought call as a blue ray and the sold call as a red ray and the series of sold puts as dotted red rays with the expiry the vertical green line on the right margin. Trade was set up after the big peak was dismissed. Trade idea was for a recovery - maybe 3 cycles of similar strenght (the blue arrows) each pulling back to the 0.768 Fibonacci level. The sold puts outweighed the cost of the call spread by 8.6 times **NOV Inc** (NOV): Oil Services. With price closing at $20.37, sold put leg (18) of 20/30/18 call spread risk reversal expired. ![May15NOV.jpg](https://files.peakd.com/file/peakd-hive/carrinm/EoAgzeXT6K2vnyp175qEwdT3ZiV6EzPbCCWVGr4f6oq35XMCDuLwKEteW1xtEKvyUFh.jpg) Chart shows the trade set up with expiry of the sold put (18) shorter than the call spread expiry. The sold put was set up as a ratio to fully fund the call spread with the shorter duration. Price has stayed comfortably above that level implying that it is possible to continue selling at that level to lever the trade up further. **Gevo, Inc** (GEVO): Specialty Chemicals. With price closing at $1.68 (May 15), 3/5/2 call spread risk reversal in pension portfolio from October 2025 went to expiry worthless. As the 3/5 call spread was fully funded by the sold put (2) not a losing trade. In fact a series of sold puts along the way has made this a good trade avenue ![May15GEVO.jpg](https://files.peakd.com/file/peakd-hive/carrinm/23tmmf7kkQU4EPoqv2UouJC9tsR51ijS3nVn57Q6GipsUKsx6a4RPAaB1tt6NBYxjkvFY.jpg) Chart shows trade entry was not the best - at the top of a long run up. Better idea is to wait for the pullback. The trade idea though was for a series of runs up (the blue arrows). As it happens that looks like it was wishful thinking (but a free trade is a free trade). They key take away from the chart is the way price has cycled around the sold put (2) level. Hence the approach evolved to keep selling puts at that level and take delivery every now and then. Did that 6 times with 3 assignments including this month.

Income Trades

**Covered Calls** 84 covered calls went to expiry with only 4 assigned (in brackets) (UK 4 Europe 4 US 71 (4) Canada 5) **Goldman Sachs Nasdaq-100 Premium Income ETF** (GPIQ): US Technology. Assigned early and at expiry on covered call In personal portfolio for 6.6% profit since April 2026 - was not expecting that after passing the dividend ex date. Maybe the buyer was getting nervous about Nasdaq levels. **UBS ETRACS Crude Oil Shares Covered Call ETN** (USOI): US Oil. Scaled into holding In personal portfolio. Might be a somewhat counter-intuitive move with China and US sort of agreeing to keep Straits of Hormuz but it seems the trade-off was China buying more US oil - has to underpin WTI Texas Crude price. Yield 32.57% **Naked Puts** 89 sold puts went to expiry with 29 assigned (UK 7 (5) Europe 15 (3) US 61 (20) Canada 6 (1)). Next month will need to be a bit quieter as the markets feels a bit toppy to be that exposed. Sold puts happy to own at lower prices - Glencore plc (GLEN.L): Base Metals. Return 1.35% Coverage 5.8% - June expiry Sold puts on stocks that might get assigned on covered calls - U.S. Gold Corp. (USAU): Gold Mining. Return 2.6% Coverage -0.3% - OTM at close - Rio Tinto Group (RIO): Mining. Return 2.1% Coverage 5.4% - June expiry - Uranium Royalty Corp. (UROY): Uranium. Return 8.5% Coverage 2.8% - iShares MSCI Malaysia ETF (EWM): Malaysia Index. Return 2.5% Coverage 0.5% - Amplify Junior Silver Miners ETF (SILJ): Silver Mining. Return 4.7% Coverage 6.3% - Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ): US Technology. Return 1.1% Coverage 4.6% - June expiry Kicked the can down the road on sold puts that could be assigned - QuantumScape Corporation (QS): Battery Technology. 2.4% profit on the buy back. 62% cash positive - NuScale Power Corporation (SMR): Nuclear Technology. 52% profit on the buy back. 31.6% cash positive - Norwegian Cruise Line Holdings Ltd. (NCLH): Cruising. 101.6% loss on the buy back. 39.5% cash positive - Lightbridge Corporation (LTBR): Nuclear Technology. 58% profit on the buy back. 162% cash positive - Rolls-Royce Holdings plc (RR.L): Aerospace/Defense. 15% loss on the buy back. 126% cash positive - July expiry - Cameco Corporation (CCJ): Uranium. 36% profit on the buy back. 182% cash positive - Rio Tinto Group (RIO): Mining. 40% loss on the buy back. 117% cash positive - VanEck Junior Gold Miners ETF (GDXJ): Gold Mining. 9.8% loss on the buy back. 179% cash positive - Lithium Americas Corp. (LAC): Lithium. 62% profit on the buy back. 158% cash positive - Wheaton Precious Metals Corp. (WPM): Gold/Silver Mining. 36% loss on the buy back. 45% cash positive **Credit Spreads** Expiring - State Street Financial Select Sector SPDR ETF (XLF): US Financials. Expired with ROI of 28.2% - iShares MSCI South Korea ETF (EWY): South Korea Index. Expired with ROI of 43.9% - Novo Nordisk A/S (NVO): Pharmaceuticals. Expired with ROI of 122% **UniCredit S.p.A.** (UCG.MI): Italian Bank. Outstanding sold put leg (66) of 66/62 credit spread expired. Had previously closed out the bought put leg (62) at a loss. The expiry and the buy back scales up the ROI from what was 53% to 73% - not bad for a month's work

Resources

**Cautions**: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas **Images**: I own the rights to use and edit the Buy Sell image. News headlines come from Google Search. All other images are created using my various trading and charting platforms. They are all my own work **Tickers**: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers. Crypto tickers come from TradingView **Charts**: http://mymark.mx/TradingView - this is a free charting package. I have a Pro subscription to get access to real time forex prices **Investing**: Interactive Brokers provides comprehensive global markets coverage with very competitive commissions. Open an account to earn up to USD 1,000 in IBKR stock. https://mclnks.com/ibkr **Crypto Trading**: **Binance** offers a wide range of coins to trade, tight spreads and low fees if you use BNB to pay https://mymark.mx/Binance **Kucoin** offers a wider range of altcoins than many of the other exchanges. I do like to diversify my holdings in case an exchange gets knocked over. Grab 15% discount on your trades when you open an account on this link https://mclnks.com/kucoin15 **Gate.io** offers a solid range of coins many of which have been delisted elsewhere. Have chosen to share the commission rebates. 40% is the rate - split 30% for me and you get to keep 10% for any people you invite. https://mclnks.com/gateio **Tracking**: Keeping track of your crypto trades is a whole lot easier with CoinTracking.info. Get 10% off all your account upgrades https://mymark.mx/CoinTracking **Aus/NZ Investing** Sharesies provides low cost, fractional share investing for Australian and New Zealand residents covering stocks in those countries and US. Start investing with as little as $20 https://mclnks.com/shares May 11-15, 2026

Dow Jones Industrial Average - SHORT Triggered