Retirement Income

Stocks and Options

July 24th, 2008 at 10:52 am

CAMECO CORPORATION (CCJ) - Sold Aug08 Calls

On 7/22/08, I sold 2 CCJ Aug08 40 Covered Calls for a net deposit of $190.50 in an IRA account.  My basis for CCJ, excluding dividends, is now 36.95.

Although CCJ does pay a small dividend (.06 per share per quarter) it is not the primary reason that I own the stock.  The option premium is why I own the stock and my belief that uranium will become a more precious commodity as the world, and hopefully the US, turns more to building nuclear plants for generating electricity.

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