Nike stock trades on the New York Stock Exchange under the symbol NKE. As investors know I have a number of trades outstanding in Nike Stock.
I also outlined this morning before the open what I would be doing. I have done quite a few trades today both to profit from the plunge and to try to protect my reverse iron condors which were established to try to profit from the Nike Earnings.
Nike Stock Plunge 5.7%
At the open nervous investors dumped shares and pushed the stock own 5.7%. I was hoping for a bigger drop. You can see what happened shortly after the plunge. Investors stepped in and realized that a company that just returned a 22% gain in earnings is still worth owning. Nike Stock quickly recovered the $62 valuations and then pushed past $63 early afternoon.
Nike Stock (NKE) – King Of Footwear
Nike is the company to beat when it comes to footwear and athletic apparel. The drop this morning was an opportunity to get into the stock at a lower price point. The bounce may be short-lived this morning but there is a lot of value in Nike Stock and I think the long-term outlook is quite good for the stock.
Profiting From The Nike Stock Share Collapse
The rest of this article outlines the trades done today. FullyInformed Members can review the latest Nike Stock (NKE) trade through this link or they can sign in to the full members site here. Non-members can join here or read about the benefits of being a member.
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.