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

1. Call spread on Coinbase (COIN 0.00%↑). Entered at a net debit of $1.60 on 4/9/2024; expired worthless on 5/10/2024. Loss: 100%.

2. Call spread on Robinhood Markets (HOOD 0.00%↑). Entered at a net debit of $0.33 on 4/9/2024; expired worthless on 5/10/2024. Loss: 100%.

3. Call spread on Robinhood Markets (HOOD 0.00%↑). Entered at a net debit of $0.25 on 5/6/2024; expired worthless on 5/10/2024. Loss: 100%.

Comments

Stocks or Exchange Traded Products

No exits this week, but our core strategy continues to do well, driven by the outperformance of our top names. Our most recent weekly top names cohort for which we have 6-month returns is the one from November 9th of last year. It finished up 52.3%, versus SPY 0.00%↑ which was up 20.39% over the same time frame.

Screen capture via the Portfolio Armor web app.

We now have 6-month returns for 46 weekly top ten names cohorts since we started our Substack in December of 2022. Our top ten names have returned 22.96% over the average of these 46 6-month periods, versus SPY's average of 12.37%.

Options

As with Coinbase (COIN) last week, Robinhood Markets (HOOD) beat on both top and bottom lines when it reported earnings this week, but its shares sagged anyway. As with Coinbase, we’ll wait until the prices consolidate (as gauged by Chartmill’s Setup rating), and then we’ll place a longer term bullish bet on it, if we’re still bullish on it at that point.

More By This Author:

What If America's Economic Growth Data Were Fake?
Theme From An Imaginary AI Trade
Looking For The Next First Republic Bank