Exits, 8/16/2024
How we did on the trades we exited this week.
Dids/Pexels
Hedging App Pricing Note
Before we get to today’s exits, a brief note about the Portfolio Armor iPhone app. The current download price is $5.99, but it is going up to $29.99 on Saturday, so if you haven’t had a chance to download it, this would be a good time.
You can download our iPhone hedging app here, or by aiming your iPhone camera at the QR code below.
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. Starting in July, 2024, I have also been tracking them in this spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
None.
Options trades
Call spread on Super Micro Computer (SMCI -1.47%↓). Entered at a net debit of $3 on 5/23/2024; expired worthless on 8/16/2024. Loss: 100%.
Call spread on Robinhood Markets (HOOD -3.71%↓). Entered at a net debit of $0.26 on 5/22/2024; expired worthless on 8/16/2024. Loss: 100%.
Call spread on Constellation Energy ( CEG -0.09%↓). Entered at a net debit of $2.50 on 7/3/2024; expired worthless on 8/16/2024. Loss: 100%.
Call spread on Southern Copper Corporation (SCCO -0.88%↓). Entered at a net debit of $1.62 on 6/7/2024; expired worthless on 8/16/2024. Loss: 100%.
Comments
Stocks or Exchange Traded Products
No exits this week, but the performance of our top names remains strong. So far, we have 6-month returns for 60 weekly top names cohorts since we started this Substack at the end of December, 2022, and as you can see here, our top names have averaged returns of 21.71% over the next six months, versus SPY’s average of 12.88%.
By exiting our losers early and letting our winners run, our core strategy can generate even better performance than that.
Options
No luck with these. I wrote about my mistakes with SMCI last week. As for the others, I got into HOOD before the pullback in crypto, so my timing was wrong there. SCCO and CEG were Portfolio Armor top names at the time, but those didn’t work out.