I am recommending a call to sell against our uncovered Nike (NKE) shares to reduce our cost basis on the position.
Note that this trade is only for people who already own shares of NKE uncovered from a previous position.
Current Stock Price: $118.80
Cost Basis: $130.98
Action: Sell to open the NKE May Week Two (5/13) 125 Call
Current Option Price: $0.81 – 0.89
Recommended Limit: Set your initial limit order at $0.84, but adjust as needed to sell a call today.
New Cost Basis: $130.14