The S&P 500 declined six days straight through the end of last week, before bouncing a bit higher early this week. The blue-chip index is down about 5% from recent highs. And the selling pressure has been heavy, with about 30% of S&P 500 stocks trading above their key 50-day moving average.
In other words, 70% of S&P stocks are now in downtrends.
But, as I explain in my video below, not all stocks and sectors are suffering equally. Be sure to watch for more details, including two sectors with 95%-100% of their stocks still in solid uptrends.
Alas, Constant Cash Flow only cashed in 15 out of 16 winners last week. Our iShares Semiconductor Index ETF (SOXX) 19 Apr $201.67 put option closed in the money on Friday. Unfortunately, SOXX fell sharply in the last stretch of trading, giving us little time to react prior to the close. So, instead we took action on Monday to close the SOXX shares acquired and take the 1.3% loss.
Still, members have closed out 376 winning trades out of 380 total closed trades since Constant Cash Flow launched over a year ago. That shrank our win-rate by only a fraction, which now stands at 98.9%! And we're on course to cash in six more trades tomorrow at the close.
You can view the full list of trades ready to cash in and holding steady below. Plus, you can always access your Constant Cash Flow portfolio here. Be sure to select "Constant Cash Flow" from the Email drop-down menu.
Every Thursday, we divide the open portfolio into three sections...
Getting Ready to Cash In: These trades will simply expire and be removed from your portfolio at the end of the day tomorrow. No action is required on your part.
Holding Steady: These trades are playing out as I hoped but are too far from their expiration date to consider them "ready to cash in."
Needs Attention: This section will provide more detail as needed, but the trades in this category are either going in the opposite direction and need to be sold prior to expiration, or I may elect to have them expire in the money and have the shares put to us. From there, I will recommend a covered call you could sell, but I will not follow that covered-call trade in the Constant Cash Flow portfolio.
Each section is organized by expiration date, then alphabetically by ticker.
Getting Ready to Cash In
The following trades are right on track to expire out of the money tomorrow (April 26, 2024) ...
BRK.B 26 Apr 24 $385 Put
GOOG 26 Apr 24 $139 Put
LLY 26 Apr 24 $680 Put
LLY 26 Apr 24 $705 Put
NVDA 26 Apr 24 $690 Put
SEDG 26 Apr 24 $50 Put
Holding Steady
The following trades continue to play out just as we hoped …
ELF 3 May 24 $155 Put
IWM 3 May 24 $180 Put
DIA 10 May 24 $350 Put
TSLA 10 May 24 $130 Put
AVGO 17 May 24 $1100 Put
DG 17 May 24 $125 Put
EFX 17 May 24 $190 Put
GS 17 May 24 $350 Put
MOD 17 May 24 $70 Put
NFLX 17 May 24 $430 Put
PANW 17 May 24 $240 Put
RH 17 May 24 $195 Put
Needs Attention
There are no trades in the portfolio that currently need attention.
Thank you as always for being part of Constant Cash Flow. And stay tuned for plenty of new money-making trades to come soon to take the place of expiring options.
If you're new to Constant Cash Flow, here are a few resources for you:
I highly recommend reading your Quick-Start Guide before diving into your daily trades. To access it, first you'll need to login to TradeSmith Finance here. In this manual, I'll do a deep dive into the emails you'll receive each week, how to set up your brokerage account to trade options, a complete "Options 101" glossary for the Constant Cash Flow strategy, and more.
To view the entire Constant Cash Flow portfolio, visit the Top Trades page on TradeSmith Finance and select "Constant Cash Flow" from the Email drop-down menu.
A full archive of our weekly updates is also available on TradeSmith Finance. Go to the My Services tab, then under Newsletters, click "Constant Cash Flow."
If you have any questions or concerns, reach out to me at emailmikeburnick@tradesmith.com and include "Constant Cash Flow" in the subject line.
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