Monday, January 26, 2009
KSS - an even juicier short this time
I shorted the retailer Kohl's (KSS) a few weeks ago for a quick 25% profit using put options. I got out of the trade without waiting for a bigger gain, which proved lucky, as the stock came back. It is now a juicier short than ever and I couldn't resist buying a boatload of put options today while the stock was in the high 39 range.
This chart is short-o-licious:
This ratio chart (KSS divided by $RLX as a retail sector proxy) also shows how much KSS has been outperforming other retailers:
Anyhoo, I'm in big and looking for a quick score over the next 1-2 weeks.