Posted on September 13, 2023
It’s all about Abercrombie & Fitch (NYSE:ANF) today, the company that’s been clothing the whole family since 1892.
The trade is absolutely SHAZAM, with a potential 1150% in the offing and some classic threads to boot.
But more on that in a second.
First, we have one to close.
It’s our ORCL trade, whose full details can be found HERE.
You’ll recall that we’re currently holding a $3.86 credit and one, short December 130 CALL.
The CALL can be repurchased today for $1.00, and we’re advising you do so.
Get it done and you close with NET $2.86 on NADA spent.
Adjusted for minimal commissions, gives you a win of 1907%!
And ain’t that nice…
And now, we turn to ANF.
The company has far outperformed its rivals YTD, and we have to shake our heads as to why.
For no good reason, is the answer.
Yes, she’s announced consistent earnings beats for some time now, but the rise in stock price is wholly out of proportion to the numbers being posted.
Consider the current fundamentals—
Maybe they’re on to something…?
The fish have been dried.
The nets hung.
And the clothing’s in tatters.
Many happy returns!