Just read this.
"Rolled one into a 2/20/26 $7.50 at $1.24 and thinking of selling a 5/15/26 $15 at $1.05
Did those yesterday and still waiting on the May 15.
What do you think of going out so far?"
I don't normally go very far out on options, and on THIS stock, I don't go that far out at all.
I think the $15 strike is high, and wish it to come true, but if you look back a few months you will see how I said when this hit about $13 that I thought it was overpriced. I starting selling stock there, and sold it all out (the second time) by time it jumped more. (remember. My low buy was at $0.72 and $0.99 just in December 2024) I thought and think that is too high for this company. The valuation is too much at $15. But - that is a HUGE premium and yes very tempting. Get about 17% for 5 months? Wow. Great downside protection and still not giving up any upside, since $15 is so high. I can't say to NOT do it, because the premium is so good. But that is exactly why "I" have not gone out that far on my options for UAMY. The premiums are high. I can get 5% every two weeks it seems, if I stay close to where it is at during that time. Yes, I've bought back options at losses because the stock jumped up so much, but that means I can sell more options at even a larger premium. So I"m staying at 2 weeks or so at a time. I was forced to go a month at a time, until recently, when they added the weekly options. I like the premiums of 5% on average every two weeks, with setbacks (buying them back if the stock starts to rise) at times dropping that to about 3.5% every two weeks. That's more like 35% in 5 months. granted, that's also selling cheaper, as yours are at $15 strike price, but even on the ones I sold at $5 I was fine doing that, as the saying is "you never go broke taking a profit".
You also asked on the puts. I too have the $5 puts expiring today. I shall let them expire, and shall write again. Probably write today, before expiration, as knowing they will expire when there is only a few hours left means I feel good writing new ones already. Doing it before the expiration means a little better premiums most of the time. Even though the stock is down, I am still doing $5 put options, not lower. Because I feel so good adding if it goes below $5. Or even rolling if I decided I didn't want to buy and it was a little below my strike price. Time value being as high as it is, rolling always means positive cash flow. Oh, and on the calls. I have the $8 calls expiring today. SO you see what i mean about being well below your $15 strike price. However, as it goes up (something not happening the past month plus) I'll RAISE that as the stock gets closer to that price. However, if the stock went to $12, I'd probably STILL just write the $12 calls, as that is IMHO still too high for this stock. Maybe it won't be if they announce another contract with the government or some fire retardant company. They also need to get that higher gross profit up from their own owned material, which they say will happen in 2026. Plus moving from 100 toms to 500 tons capacity in Montana will make a huge difference. These are things that need to happen in 2026 though, and as they do I might move my upper limits up some. For now, I like buying about $6.60 or less (which it is at now) and selling from $10 to $13. But my calls are well below that, and I understand I may need to buy them back if the price rises, as I would not be happy selling shares at $8 if it were above that today. Not that it would hurt, since $8 is better than $5,60. LOL.
Long winded. I know. Bottom line. I don't go out that far on this stock, since the premiums are so high for short term. I own shares I bought at $3 that have returned $3.50 in premiums so far just this year, when the stock was higher. I didn't get to sell those stock, due to the calls, and in some ways wish I did at $15, but still I can't complain pulling 100% of my money out in less than a year and still owning the shares. And yes, I'm still VERY bullish longer term. We are still pulling back from the overshoot on the upside of this year, but I still see it higher in 2026. Not due to the hype, but the actual revenue of $125MM and the higher margins of internal ore, along with new contracts not yet announced that I believe will come. So I'll write calls, write puts, buy stock when down, sell stock when up (yes) and play it within the range I see it in. An ascending range over time. GL.
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