A week to absorb last week's busy options expiry - just tinkering around the edges and writing the next cycle of covered calls and sold puts
Portfolio News
In a week where S&P 500 rose 0.88% and Europe rose 3.11%, my pension portfolio dropped 0.57%. A divergence in performance based on not enough tech stocks and too many gold and silver and uranium holdings relative to the market.
Big movers of the week were Delivra Health Brands (DHB.V) (25%), Island Pharmaceuticals (ILA.AX) (24.3%), CleanSpark (CLSK) (21.8%), Standard Uranium (STND.V) (17.5%), Northern Minerals (NTU.AX) (16.7%), Lightning Minerals (L1M.AX) (15.8%), TDK Corporation (6762.T) (12.6%), Tyro Payments (TYR.AX) (12.1%), Sunrise Energy Metals (SRL.AX) (12%), Dream Finders Homes (DFH) (11.4%), American West Metals (AW1.AX) (10%)
Only 11 stocks in the big movers list tells a story of its own. It is a ragtag of quite different things. Big themes are from the top: marijuana (1 stock), uranium (1 stock), rare earths (1 stock), gold/silver mining (1 stock), alternate energy (2 stocks).
Another choppy week this time a little more focused on oil and yields and US Dollar rather than the war. Records there were.
Crypto Drifts
Bitcoin price pushed higher and then sagged before finding buyers finishing the week 0.1% lower than the open with a peak to trough range of 5% = a quiet week stranded in no-mans lad between levels.
Ethereum price did much the same finishing the week 1% lower than the open with a peak to trough range of 6.9% - also a quiet wobbling around a key level (the green line).
This is the telling chart - Ethereum vs Bitcoin - a 16% drop in Ethereum suggests who is winning the crypto war as funds shift to Hyperliquid and ZCash for high TPS action.
Did not see this coming - there were a few privacy coins that were locked out for Australian residents some while back. Pretty sure I closed out my holdings then. Will be exploring this again
One that is in my portfolios is NEAR Protocol (NEARBTC) - a 92% pop on the week
Cosmos (ATOMBTC) looks like it wants to break higher with the moving averages crossing over and making a higher low with a 16% pop also making a higher high
Injective Protocol (INJBTC) continued the run started the week before alos making higher high with a pop of 27%
Nuclear Energy Holdings
One addition only and a 2.6% drop in valuations.
One change in mix of holdings with Paladin Energy (PDN.AX) moving up two places into slot 8. Share of Others drops half a point to 49.1%. Share of portfolios drops half a point to 30.9%
Holdings by Stage sees a drop in Physical, a 0.7 point increase in Producing with the addition there, modest changes in the remaining stages apart from 0.5 point increase in Technology.
Alternate Energy Holdings
No changes in holdings and a 1.3% drop in valuations
No change in the ranking of Top 10 but some key changes in shares. JinkoSolar Holding Co (JKS) down 1.3 points and Chargepoint (CHPT) up 1.1 points. Share of portfolios comes down 0.1 points to 5.1%
Precious Metals Holdings
Two additions - one in gold and one in silver - and a 5.1% drop in valuations.
One change in the mix of holdings with GoGold Resources (GGD.TO) and Alamos Gold (AGI) swapping places in slot 8 and 9. Share of portfolios comes down 0.4 points to 10.8%
Bought
Used the sell off moment in gold and silver to add to two holdings in pension portfolio - scales in at a lower cost. Been following quite a few interviews about the mispricing of silver mining stocks which market is valuing on silver price around the $40-50 mark. With price higher than that there has to be upside when the liquidity fear goes out of the markets
First Majestic Silver Corp (AG): Silver Mining. Picked this as price has been pummelled quite hard. A bit of digging after the event. First a table from their corporate factsheet - 4 mines producing between 15 and 16.7Moz per year at a weighted average AISC between $22.71 and $26.85 per ounce. In the past 60 days silver price has ranged between $70 and $85 - currently $75.45 (May 22). This gives massive free cash flow - way ahead of the annual capex expenditures (like 32% ahead of 2026 budgets)
Next a few comparison charts - the Global X Silver Miners ETF (SIL) comparing the Top 15 holdings and going back to the cycle low. On this one can see that First Majestic Silver Corp (AG - dark blue line) has tracked the ETF and is 13 points ahead only. The right hand dotted vertical line is the more pertinent line - the start of the Iran War - let's see that
This is what I saw in the charts I was looking at - the premier silver mining stock lagging the ETF by 15 percentage points.
Quite frankly one could buy any of these stocks and watch what happens when the war ends.
Equinox Gold Corp (EQX): Gold Mining. Picked this gold stock to scale in in pension portfolio based on interview of the CEO, Darren Hall, following the merger with Aura gold - building a world class deposit in a solid jurisdiction. Wrote covered call for 1.03% premium with 19.7% price coverage.
Did the comparative charts again to Van Eck Vectors Gold Miners ETF (GDX - the bars) going back to the cycle low. EQX is not in the Top 15 - added it in - the orange line - lagging by 15 points. The notable stock on this chart is the bottom one - Northern Star Resources (NST.AX) - I have a very large holding in pension portfolio. This is sitting on one of the world's largest gold fields in the Pilbara, Western Australia. Will not be selling down just yet.
Go back to the chart from the day the war started - there Equinox Gold Corp (EQX) is 2nd from the bottom and lagging the ETF by 9 points - hence looking attractive. The market has not factored in the merger benefits yet.
Energy Fuels Inc (UUUU): Uranium. Added a parcel in personal portfolio on a down day - the whole uranium market feels like a coiled spring. Japan has 42 reactors of which only 17 are currently slated to restart. Imagine what the fuel demand will be in the next 18 months if they move to restart the ones that are safe. [Thanks: Rick Rule for the thought]. With oil sentiment going the way it is, they have no real choice. Wrote covered call for 1.6% premium with 39.7% price coverage. Got to love the implied volatility. More than 1% premium for a month's hold and 39% leeway.
88 Energy (88e.ax): US Oil. Stock has made it to big movers list a few times. Looks like they are making headway on Prudhoe drilling and a new well underway. Added to holding in personal portfolio to average down entry price.
Sold
Tess Holdings Co (5074.T): Japan Utility. Closed out in pension portfolio for 174% profit since February 2024 - stock screen idea.
Quick review of the charts shows the entry in early 2024 with price breaking the downtrend and making higher high and higher low. Did not maintain the momentum and traded sideways for 18 months with a few tries above the entry level. And then the break worked.
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
Top Ups
NIB Holdings (NHF.AX): Health Insurance. Dividend yield 3.83%
Chart shows a messy journey from the first entry with price drifting lower and then falling hard on earnings in mid 2025. Something of a recovery then - did not see the signals to average down in early 2025 (or ignored them). Price has now reversed and made higher lows. Plenty of scope to make a 52 week high target around the recent highs. This is above the two broker targets - might be making an exit there just above breakeven
Kelsian Group Limited (KLS.AX): Shipping. Dividend yield 3.81%.
Chart shows a less than happy investment path and the weakness of the early investing approach. Looks like price was in the middle of a range for that first trade rather than at the bottom of a long fall. Had several goes at making the breakout from the 2nd entry. The July 2025 entry is more in line with the strategy - find beaten up stocks that are showing signs of recovery. There is 35% margin between this last entry and the broker target. The business has chosen to divest its tourism holdings and focus on the ferry and transport business. May be looking for a breakeven exit around the broker target
Sold
No sales
Income Trades
Covered Calls
65 covered calls written across 4 portfolios (UK 4 Europe 6 US 53 Canada 2)
Naked Puts
21 naked puts sold across 3 portfolios (Europe 6 US 13 Canada 2)
Sold puts happy to own at lower prices - some samples
- Barrick Mining Corporation (B): Gold Mining. Return 2.4% Coverage 7.6%
- Mirion Technologies (MIR): Nuclear Technology. Return 4.3% Coverage 4.4%
- SLB N.V. (SLB): Oil Services. Return 2.76% Coverage 0.4%
- Commerzbank AG (CBK.DE): German Bank. Return 3.5% Coverage 5.9%
- Fresenius SE & Co (FRE.DE): German Healthcare. Return 2% Coverage 4.5%
- ERAMET S.A. (ERA.PA): Base Metals. Return 4.2% Coverage 7.6%
- Engie SA (ENGI.PA): French Utility. Return 1.2% Coverage 3.9%
- DHL Group (DPWA.DU): Europe Logistics. Return 1.5% Coverage 4.9%
- Denison Mines Corp (DNN): Uranium. Return 5% Coverage 6.7%
- Aurora Cannabis (ACB.TO): Marijuana. Return 5.4% Coverage 7.5%
- Solstice Advanced Materials (SOLS): Specialty Materials. Return 1.76% Coverage 15.6%
- NexGen Energy (NXE): Uranium. Return 4.6% Coverage 5.9%
- Canopy Growth Corporation (WEED.TO): Marijuana. Return 8% Coverage 8%
- Lightbridge Corporation (LTBR): Nuclear Technology. Return 5% Coverage 9%
- Mirion Technologies (MIR): Nuclear Technology. Return 4.9% Coverage 2.5%
- OR Royalties Inc. (OR): Gold/Silver Mining. Return 4.3% Coverage 0.9%
- NVIDIA Corporation (NVDA): US Semiconductors. Return 1% Coverage 21%
- Centrus Energy Corp. (LEU): Uranium Enrichment. Return 3.2% Coverage 21.7%
- ASP Isotopes (ASPI): Nuclear Technology. Return 9.4% Coverage 14.8%
- Coeur Mining (CDE): Silver Mining. Return 2.% Coverage 18.7%
- ChargePoint Holdings (CHPT): Electric Vehicles. Return 3.3% Coverage 32.6%
Credit Spreads
Two new credit spreads written
- L'Air Liquide S.A. (AI.PA): Specialty Chemicals. ROI 28.2% Coverage 7.9%
- Novo Nordisk A/S (NVO): Pharmaceuticals. ROI 39.9% Coverage 3%
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 18-22, 2026