Etsy Stock Paints Frightening October Picture

Plus, 24 other stocks likely to underperform in the next few weeks

Digital Content Manager
Oct 4, 2023 at 3:00 PM
facebook X logo linkedin


Etsy Inc (NASDAQ:ETSY) stock is up 2.2% to trade at $63.64 at last glance, but traders shouldn't necessarily take that as a good sign. The equity is down 46.9% so far this year, and not far off its Sept. 28, three-year low of $61.22. Staunch resistance from the 20-day moving average is also keeping a tight lid on ETSY, which is historically the worst S&P 500 Index (SPX) stock to own in October, going back 10 years. 

ETSY 20 Day

According to data from Schaeffer's Senior Quantitative Analyst Rocky White, Etsy stock averaged a loss of 6.8% in October over the last decade, finishing the month higher just once. The security has also shed almost 2% more than the second worst name on this list.  

Worst of October

Nevertheless, options traders are bullish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 50-day call/put volume ratio of 1.50, which ranks higher than 76% of readings from the past 12 months. An unwinding of this optimism could also be bad news for the equity.

It's also worth noting Etsy stock boasts affordable premiums at the moment, meaning now is the ideal time to make a move. This is per its Schaeffer's Volatility Index (SVI) of 51% that ranks higher than 26% of annual readings, implying low volatility expectations. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI