Beto O’Rourke: Sell. It’s hard to believe that Beto was once seen as someone who might catch fire in Iowa and propel himself to the nomination. It isn’t really entirely clear that he’s running for president anymore, as he campaigns in non-swing states and does things like advocate a right to work near your house. His debate performances have been underwhelming, and it is difficult to see how he rights the ship at this point.

Kamala Harris: Buy. This may seem counterintuitive given her precipitous drop in the polls, but Harris is probably undervalued. She’s the most natural political athlete of the bunch, and the Democratic electorate has already showed a willingness to consider her. A good debate and a Biden collapse might be enough to give her a second bounce. In any event, she seems undervalued for now.