Pls excuse the crude drawings...this is my first published idea,
My thesis behind this play is to play the swings going into 5/28, Nike's Ex-Dividend date.
Yesterday 5/26 @ 7am PST, I received an alert from the Options Flow channel that there was a Calls Sweep for NKE @ the $138 Strike Exp 6/4, this was confirmed shortly after with a spike running from 6:30-9am.
Going over the earnings and dividend history and different time intervals it looks like any time NKE has a sharp spike to the upside it is then followed by a snapback to support.
I'm going to pay close attention to action in the pre-market and possibly play PUTS as I think there will be a drop off followed by a possible bounce back. I'll play it in reverse if the pre-market and conditions indicate otherwise. I'll most likely choose a June expiration date not 5/28.
NKE
NKE
My thesis behind this play is to play the swings going into 5/28, Nike's Ex-Dividend date.
Yesterday 5/26 @ 7am PST, I received an alert from the Options Flow channel that there was a Calls Sweep for NKE @ the $138 Strike Exp 6/4, this was confirmed shortly after with a spike running from 6:30-9am.
Going over the earnings and dividend history and different time intervals it looks like any time NKE has a sharp spike to the upside it is then followed by a snapback to support.
I'm going to pay close attention to action in the pre-market and possibly play PUTS as I think there will be a drop off followed by a possible bounce back. I'll play it in reverse if the pre-market and conditions indicate otherwise. I'll most likely choose a June expiration date not 5/28.
NKE
NKE