The Week in Review
I did purchase the shares a bit on the high side pricewise. I was expecting that we can go back down to support. While we lost support on a lot of tickers on Friday, KSS did hold up nicely.
KSS also shows a bullish divergence.
Very strictly speaking, Friday's candle is a bullish engulfing candle.
Opening Thu $28.15, Fri $28.12
Closing Thu $28.68, Fri $28.74
Thu range = $0.53 and Fri range = $0.62
Trade Update
Last weeks $81 is full profit, money in the bank. The call expired worthless.
This weeks trade:
Sell September 30, $31 call for $0.39.
If called out the return ($31-$30.65)*100+$39 = $74. $74/$3065 = 2.41% for 2 week,
If not called out the return is $39/$3065 = 1.27%
Disclosure
I have been beneficially long the shares in KSS and short the call in KSS. I wrote this article myself and it expresses my own views and opinions. I am not receiving any compensation for this. I have no business relation ship with any company whose stock is mentioned in this article.
I am not an investment advisor or professional. This article is my personal opinion and experience and is not meant to be a recommendation of the purchase or sale of a stock or option. Investors should conduct their own research before investing to see if the companies discussed in this article fit into their portfolio parameters.
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