The Best FAANG Stock to Own in April

Plus 24 more of the best performing stocks historically in April

Managing Editor
Mar 30, 2020 at 2:02 PM
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Last week, we profiled the best performing stocks since 2009, based on annualized returns. It's no surprise FAANG stock Amazon Inc (NASDAQ:AMZN) found itself on that list, boasting a return of 36.8%. Looking towards the future now heading into a new month, Schaeffer's Senior Quantitative Analyst Rocky White broke down the best S&P 500 stocks to own in April over the past 10 years. AMZN popped up again, and is the only FAANG stock to show up on the monthly list, boasting particularly impressive returns in recent years.

More specifically, looking back over the last decade, Amazon stock boasts an average April return of 5.5%, with eight out of 10 returns positive. That's good for third best on the list, and top among the general retailers sector.

Best April SPX

Breaking down AMZN even more, the FAANG stock hit an annual bottom of $1,626.03 on March 20, but since then has rallied back to reclaim its year-to-date breakeven level. At last check, the security was up 3.4% to trade at $1,963.90 today, on track to close above its 40-day moving average for the first time this month.

Daily Stock Chart AMZN

In the options pits, calls hold the advantage. The 10-day call/put volume ratio sits at 1.55 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Digging deeper, the July 1,800 call is home to the largest change in open interest during this time frame, followed closely by the 1,700 strike in the same series.

Echoing this, AMZN's Schaeffer's put/call open interest ratio (SOIR) of 0.66 sits in the low 17th percentile of its annual range, suggesting that short-term options players have rarely been more call-heavy during the past 12 months.

 

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