Nike (NKE) Offering Possible 16.01% Return Over the Next 10 Calendar Days

Nike's most recent trend suggests a bullish bias. One trading opportunity on Nike is a Bull Put Spread using a strike $170.00 short put and a strike $165.00 long put offers a potential 16.01% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $170.00 by expiration. The full premium credit of $0.69 would be kept by the premium seller. The risk of $4.31 would be incurred if the stock dropped below the $165.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Nike is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Nike is bullish.

The RSI indicator is above 80 which suggests that the stock is in overbought territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Nike

Soccer-Brazil's Olympic Committee vows action in sponsor spat
Sun, 08 Aug 2021 18:36:57 +0000
The Brazilian Olympic Committee (COB) vowed to take action against footballing authorities on Sunday after the victorious men's team at the Tokyo Games failed to wear their official tracksuits at the gold medal ceremony in a dispute over rival sponsors. The players appeared in their Nike-produced shirts rather than wearing the tracksuits tops made by the Chinese company Peak Sport Products. Nike sponsors the Brazilian football team but Peak sponsors the Brazilian Olympic Committee.

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UPDATE 2-Levi Strauss sustainability chief leaves Better Cotton Initiative board
Fri, 06 Aug 2021 17:09:53 +0000
Levi Strauss & Co's chief sustainability officer, Jeff Hogue, has left the board of trade body Better Cotton Initiative (BCI), the denim maker said on Friday. Earlier this year, several brands including Swedish fashion chain H&M and sportswear maker Nike as well as BCI became targets of some Chinese internet users after they raised concerns about alleged forced labor in Xinjiang. Members of the coalition remain torn over how and when to respond to the Chinese attacks, with some wanting BCI to swiftly and forcefully rebut the attacks and others pushing for a slower and more cautious approach, the Wall Street Journal reported https://on.wsj.com/3isu2Mj on Friday, citing people familiar with the matter.

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NIKE, Inc. Declares $0.275 Quarterly Dividend
Thu, 05 Aug 2021 20:15:00 +0000
BEAVERTON, Ore., August 05, 2021–NIKE, Inc. (NYSE: NKE) announced today that its Board of Directors has declared a quarterly cash dividend of $0.275 per share on the company’s outstanding Class A and Class B Common Stock payable on October 1, 2021 to shareholders of record at the close of business August 30, 2021.

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