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Thursday, June 25, 2015

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NKE Earnings

4:52 PM    No comments
NKE: Im sure glad we got out with those puts when we did. NKE smashed through its earnings estimates. Based on its past performance history, I knew it was going to beat the street, but I didnt realize by this much. It turns out there is a big demand for athletic gear and Nike is supplying it. The technicals for NKE said top and I did take advantage of that, knowing that NKE was going to beat the street (I didnt know to what extent) and I didnt want to wait for the stock to rise to the point again where I could put it after the earnings announcement. But with this kind of announcement, the stock is off to the races. Add to the fact that they will now be dressing major sports teams, and wow.
Well, I got out while the getting out was good. Options is not only about the contract, its about the timing.
If for some reason you have NKE puts, the only thing I can tell you is to purchase a few calls and hold them for a few days, then watch the technicals for a top candle. Watch me at this site as I will call the top of NKE in the coming week for a post earnings pullback.

Tradinginsider

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