Exits, 11/24/2023
How we did on the trades we exited this week.
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 Urban Outfitters (URBN 2.17%↑). Entered at $0.42 on 11/21; expired worthless on 11/24. Loss: 100%.
Call spread on Nvidia (NVDA -1.58%↓). Entered at $1.10 on 11/21; expired worthless on 11/24. Loss: 100%.
Call on Jack In The Box (JACK 5.68%↑). Entered at $4.80 on 11/21; exited at $5.30 on 11/22. Profit: 10%.
Call spread on BellRing Brands (BRBR 4.31%↑). Entered at a net debit of $1.09 on 11/20; exited at a net credit of $1.78 on 11/21. Profit: 63%.
Put spread on Kohl’s (KSS -9.04%↓). Entered at a net debit of $0.46 on 11/20; exited at a net credit of $0.95 on 11/21. Profit: 107%.
Call spread on Burlington Stores (BURL 20.84%↑). Entered at a net debit of $0.45 on 11/20; exited at a net credit of $0.94 on 11/21. Profit: 109%.
Comments
Stocks or Exchange Traded Products
Another week with no exits, as our core strategy of buying our top ten names and holding them until they get stopped out (and then replacing them with a new top ten name) continues to perform well. As we noted in our top names post on Thursday, 16 out of 20 of our top names cohorts from this year have outperformed the market over the next six months.
Top Names, 11/22/2023
Happy Thanksgiving Since the market is closed on Thanksgiving, I’m posting our top ten names as of Wednesday’s close this week. Before we get to them, a quick recap of our core strategy and its performance so far this year. Our Core Strategy Our core strategy is to buy equal dollar amounts of the
Options Trades
We placed seven earnings trades this week using our current methodology, which we outlined here:
Trade Alert: Earnings, 11/20/2023
Our Current Approach Recall that we’re using these ten factors when evaluating earnings trades, LikeFolio’s earnings score based on social data. The higher the number, the more bullish, the lower (more negative) the number, the more bearish. Portfolio Armor
Of those seven trades, five were winners (unfortunately, we didn’t get a fill on one of the winners, which was Dick’s Sporting Goods (DKS 0.98%↑). But this looks like progress. We’ll enter the 5-day returns of all the stocks we analyzed for earnings trades this week (including the ones we passed on) in our spreadsheet this weekend, and we’ll update the weightings on our factors for next week’s earnings trades.