Dids/Pexels
This Week’s Trade Exits
As soon as I exit a trade, I note that in the comments of the post where I first mentioned the trade; at the end of the week, I try to track them all in one post. These are the trades I exited this week:
Stocks or Exchange Traded Products
None
Options Trades
Call spread on Abercrombie (ANF 0.00%↑). Entered at a net debit of $0.45 on 3/4/2024; expired worthless on 3/8/2024. Loss: 100%.
Put spread on Kroger (KR -0.04%↓). Entered at a net debit of $0.45 on 3/4/2024; expired worthless on 3/8/2024. Loss: 100%.
Put spread on The Gap (GPS 0.00%↑). Entered at a net debit of $0.24 on 3/7/2024 (partial fill); expired worthless on 3/8/2024. Loss: 100%.
Puts on ThredUp (TDUP 0.00%↑). Bought at $0.50 on 3/4/2024; sold at $0.70 on 3/5/2024. Profit: 40%.
Put spread on SEMRush (SEMR 1.53%↑). Entered at a net debit of $0.95 on 3/4/2024; sold at $2 on 3/5/2024. Profit: 110%.
Call spread on BJ’s Wholesale (BJ 8.53%↑). Entered at a net debit of $2.10 on 3/4/2024; exited at a net credit of $4.74 on 3/7/2024. Profit: 126%.
Call spread on Honest Co. (HNST -0.75%↓). Entered at a net debit of $0.55 on 3/5/2024; exited at a net credit of $1.80 on 3/7/2024. Profit: 229%.
Comments
Stocks or Exchange Traded Products
No exits this week, but our top names continue to perform well. Those are the names our system estimates will have the best returns over the next six months. Here’s how our top names from August 31st performed over the next 6 months.
As a reminder, we post our top ten names each week on this Substack (usually, on Thursday night), and you can find them every day the market is open on our Portfolio Armor web app.
Options Trades
The highest composite score of any of the stocks we researched this week belonged to Honest Co. (HNST 0.00%↑), despite social data and options sentiment being bearish on it.
Honest Co. (HNST) (8.6)
Social data: -61
PA Options sentiment: Very Bearish.
Setup rating: 5
Valuation rating: 0
F-Score: 3
Recent insider transaction(s): Net open market sales peaking in November.
Zacks ESP: 0%
Zacks Ranking: 2
RSI: 44
Short Interest: 2.7%
It also had the highest 5-day return of any of the stocks we researched this week, at 44.92%. I entered that return, and all of the others, into our spreadsheet and derived updated weightings for our metrics and composite scores.
Looking forward to next week.