Oklo Shares +27%, Call Options Going Nuclear
$Oklo Inc (OKLO.US)$ shares climbed 28%, leading nuclear stocks higher, and sent options on the stock near the top of the list for the highest trading volume in the market on Monday. Seeking Alpha attributed the climb to a market reaction to a 60 Minutes TV segment featuring $Centrus Energy (LEU.US)$ CEO Amir Vexler, who said the nuclear power industry supplies 20% of American power and relies on Russian Uranium. Uranium and nuclear stocks have radiated higher in the past year, as big tech competes for energy sources for AI data centers.
One contract stood out within Oklos options chain, perched at the 27th place in the market based on High Stock Options Volume. $25 calls expiring 11/15 saw 15.79k trading volume on Monday. The contract price climbed 210%, to $3.7/share for 100 shares at the time of writing.
Earlier this month, $Amazon (AMZN.US)$ and $Alphabet-C (GOOG.US)$ annouced seperate nuclear energy production plans to power cloud services and AI. Amazon signed a deal on October 16th to develop four small modular reactors with the firm Energy Northwest to generate 960Mw of electricity.
On Monday, October 14th, Google said it would construct similar reactors with Kairos Power in California to buy 500 Mw of power. Microsoft last month signed a deal to buy more than 800Mw of power from a new Unit 2 on Three Mile Island in PA.
Firms like Oklo have climbed impressively. Oklo jumped 295% since September, a retail trader's favorite after the firm went public in May, after attracting startup funders like Sam Altman from Open AI. The firm is one of many attempting to build small nuclear reactors in the U.S.
Vexler said the U.S. is cutting back on its reliance on Russian uranium, slowly weening off until 2028 due to war sanctions. To meet that demand, Vexler told 60 Minutes he wants to build 11,000 more centrifuges. The U.S. will need six to seven years of lead-up time to make enough enrichment centers before halting trade with Russia, he said.
Simular startup and smaller nuclear firms climbed alongside Oklo. $Lightbridge (LTBR.US)$ climbed 20%, $NuScale Power (SMR.US)$ climbed 18%, and $NANO Nuclear Energy (NNE.US)$ climbed 9%.
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