27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
The most overbought stocks in the consumer staples sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70.
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Here’s the latest list of major overbought players in this sector.
Fresh Del Monte Produce Inc (NYSE:FDP)
- Fresh Del Monte Produce reported better-than-expected Q4 adjusted EPS and sales results. The company’s stock has a 52-week high of $31.72 .
- RSI Value: 83.69
- FDP Price Action: Shares of Fresh Del Monte Produce jumped 10% to close at $31.50 on Wednesday and lost 0.1% in after-hours trading.
Hostess Brands Inc (NASDAQ:TWNK)
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- Hostess Brands reported better-than-expected Q4 adjusted EPS and sales results. The company’s stock has a 52-week high of $29.00.
- RSI Value: 78.50
- TWNK Price Action: Shares of Hostess Brands jumped 8% to close at $24.63 on Wednesday and lost 0.1% in after-hours trading.
Rite Aid Corp (NYSE:RAD)
- Rite Aid plans to dispense abortion pill mifepristone in a limited number of its pharmacies and will serve customers in person or through mail delivery. The company has a 52-week high of $11.60.
- RSI Value: 70.23
- RAD Price Action: Shares of Rite Aid gained 5.1% to close at $4.11 on Wednesday and added 1% in after-hours trading.
Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC)
- Natural Grocers posted downbeat earnings for its first quarter. The company’s 52-week high is $24.25.
- RSI Value: 71.62
- NGVC Price Action: Shares of Natural Grocers by Vitamin Cottage gained 5.5% to close at $10.91 on Wednesday.
Dole PLC (NYSE:DOLE)
- Dole Plc agreed to sell fresh vegetables division to an affiliate of Fresh Express for $293 million gross proceeds. The company has a 52-week high of $15.78.
- RSI Value: 74.71
- DOLE Price Action: Shares of Dole gained 2.8% to settle at $11.65 on Wednesday and added 1.3% in after-hours trading.
Read More: Hyatt Hotels, Charles Schwab And 2 Other Stocks Insiders Are Selling
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.