Trade of the Day: Nike Inc (NYSE:NKE)

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We are officially in the first five trading days of the month, which means there should be a bullish bias in the market. For that reason, I believe there is about a 70% chance that the market will move higher over the next five days.

Every week, I scan thousands of potential option plays. And today, we’ll look to take advantage of some overall market strength and pair that with a company on the move that designs, develops, and markets athletic footwear, apparel and equipment products.

Nike (NKE) analysts expect the company to show earnings growth of 10.76% next year, and then post an average growth rate of 14.01% over the next five years. With the stock recently snapping downward resistance, making higher price highs and higher price lows, we believe now is the time to get in on the cheap before this one really begins to run on us.

Buy to open the Nike (NKE) Oct 60 Calls (NKE161021C00060000). 

InvestorPlace advisor Ken Trester brings you Power Options Weekly, which delivers 5 new options trades and his latest trading advice to you each Friday. It’s the perfect “bridge” between investing in ordinary stocks and the turbocharged world of options trading. In Maximum Options, he brings you his personal trades using high-probability, “professional grade” strategies.

Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990.


Article printed from InvestorPlace Media, https://investorplace.com/2016/09/trade-day-nike-inc-nyse-nke/.

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