Nike Saves The Day...And Friday Q&A

Nike (NKE) Saves The Day Hello Smart Option Sellers! As mentioned over the last few alerts, Nike was slated to release earnings after the bell yesterday. And they knocked it out of the park! They're riding those Air Jordan's to the tune of $5 per share higher at the moment. All we needed was a spark like that to let investors know that companies are still doing well in this environment. So we can see that not all the selling is due to companies missing estimates (because many are beating estimates), much of it is due to fear and panic snowballing onto itself. Nike was there to help calm the nerves and allow cooler heads to prevail. Now, of course not all companies are hitting home runs like Nike, i.e., Big Lots (BIG). If only we could've seen results from BIG to mimic NKE's, we'd all be a bit happier. But the solid news from Nike is the kind of spark needed to possibly help stem the slump. Let's see if we can rally today. As far as the unofficial Nike hedge trade from the other day - you will undoubtedly see those December 21st put options expire worthless today. You don't need to do anything with them as they will just disappear from your account over the weekend. No harm, no foul. It was a smart way to keep losses in check had Nike whiffed on the results. If you bought the December 28 options, then you can just let those ride out for another week. Keep holding. Our current January 2019 Nike put-sell should see a nice drop in price today, which is exactly what we want. The faster it can decay, the faster we can buy it back for a profit. But we're not out of the woods yet with some of our other positions. We need to see a sustained uptrend over the near future to relieve