The Vetr crowd on Wednesday upgraded their rating for Kate Spade & Co (NYSE:KATE) from 4 stars (Buy), issued nine days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 83 percent of Vetr user ratings bullish.
After maintaining a period where the stock hit a 10-month high just over $24 through the start of 2017, Kate Spade resumed trading at the level it was at before the company announced it was reviewing potential acquirers. The stock dropped back below $20 on Tuesday morning on news that the retailer intended to further negotiate the proposed offer by Coach Inc (NYSE:COH). The stock has remained flat since then, closing at $19.47.
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27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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Currently, the Vetr crowd's average target price for Kate Spade was up at $25.44, which is above the average analyst target price of $23.63. Less than 2 percent of Vetr users are holding KATE in their watch lists