Bearish – NKE $83.44 – Retail
The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.
On Friday’s Options Action, the crew analyzed the performance of Nike. Nike is currently trading near its all-time high valuation with poor earnings performance over the past 2 years. Coupled with the retail sector slowing down, Nike is likely to underperform with upcoming earnings on June 27th. Expecting NKE to trade lower, Michael Khouw suggests buying a July/Sept 77.5 Put Calendar for $1.00 Debit. As of Friday’s close, these puts were trading at a $0.96 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: NKE OptionsAction Video
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