... for a 2.23 credit. (Earnings volatility contraction play).
Metrics:
Probability of Profit: Coin Flip
Max Profit: $223/contract
Max Loss/Buying Power Effect: $177/contract
Break Evens: 56.27/61.23
Notes: I filled this at open, but price has moved down somewhat, so you may want to adjust the setup by a half strike or so. In any event, this thing's so...
NKE is one of the stocks that have the least bull momentum, even when the Dow its posting new highs week after week. The correction of more than 1% today in the indexes can tell us that we may have a small correction ahead of us. I like the set up for a short position in Nike.
With fourth quarter earnings announcements trailing off majorly here, there isn't much in the way of earnings to play, with the earnings of note for premium sellers being FDX, which announces on 3/21 after market close, and NKE (same).
FDX is toward the top of its implied volatility range over the past six months (85), with NKE in the 63rd percentile over that...
NKE plays on major support level.
Price Action and Fork confirmed so I set up my RiskReversal.
Earnings ahead...I can take it.
Worst case would be to own the stock if all goes bad and I get assigned.
I then would just sell covered Calls/Puts to bring down the cost basis (entry point of stock).
The WWTGT would be a WolfeWave target, which is exactly the...
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
DOW JONES Index incl. all 30 Shares (2016 Yearly Performance) @ drive.google.com
Best regards
Aaron
At least this is what I'm seeing for NKE, as far as MAs and timeframes are concerned. I doubt the holiday shopping would be beneficial for them either.
NKE looks a very good short. It broke the support & going down after retested the support. moneyflow is very deep in negative side.
We think it will be a good short from 51.60 or lower down to 48 area
You can check our detailed analysis on NKE in the trading room/ Executive summary link here-
www.screencast.com
Time Span: 44:20"
Trade Status: Pending
Looking for a bounce with NKE now showing a double-bottom from it's June 2016 low. Volume looks to be getting lighter, so I'm looking for volume to increase on the reversal and take it to $55.
Possible trend continuation wedge.(ABCDE)
You could do a small short down to $50 then be ready to buy it right back up to $80ish.
Won't be trading this but this looks like a real good setup
