We were called out of our Nike (NKE) shares last week, incurring a large net debit.
I want to stick with the stock. The company is fundamentally strong and will benefit from back-to-school shopping.
Therefore, I am recommending a put to sell to reduce our net debit on the position.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $114.97
Net Debit: $16.36
Action: Sell to open the NKE Aug Monthly (8/19) 110 Put for around $0.89, but adjust as needed to sell a put today
New Net Debit: $15.47