NKE TradeSo I flipped some puts earlier this week for a good gain, re-entered the trade today. NKE appears to be rangebound since the recovery from the big drop, and it seems to wind up around $84 for earnings.
Decided to hold on to the puts for Monday, the conservative target is $86, aggressive target is $84.5. Depends on what the computers do with Dow futures. If the Dow stays flat or green like today, I'm bailing early.
Note that I'm doing quick flips, I got a couple of messages that NKE wasn't going anywhere AFTER I had already posted that I had closed the trade earlier this week. If anyone followed me into this trade today (posted it in my earlier NKE post), I plan on flipping the puts when it goes oversold on the hourly again.
NKE isn't gonna tank unless earnings suck, don't hold the short position expecting this to go straight down.
NKECL trade ideas
NKE, just short it.Can't believe this PoS hit ATH again. Obviously getting a pump from being in the Dow, this will tank again when the pump stops.
Rolled my COUP profits into some weekly puts. Might just be a one day play on what appears to be a reversal. Of course they might pump futures tonight, so be careful. Small play.
Nike updateNike market cap $138.51B and is part of Dow Jones. Price approaching all time highs again. Recent daily candles show price finds it difficult to go higher, though there is space to overbought on a daily.
4 hour though quite overbought and candles showing potential reversal here. Great risk reward for a short here.
Good Luck!
Buying Nike here ...The stock started a solid move last week but with the overall markets being so bearish, that recent run has slowed down.
We still think that despite all that collusion on the chart, the stock is actually still in a mini bull run. Earnings are on the 23rd and we expect a strong move into them.
We'll buy the 9/20/2019 $90 calls to try and take advantage of it ...