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SFPC Trade Alert: NKE

The coronavirus-related sell-off continues today. As I said yesterday, I believe the market is overreacting, but we must play the hand we are dealt.

Selling calls on stocks to generate cash and managing those calls aggressively is a great way to navigate markets like this one when you have a longer-term view of a company and a stock. And that’s exactly what we will be doing with our Nike (NKE) position today.

Current Stock Price: $97.28

Cost Basis: $100.93

Action:

  • Buy to close the NKE Jan Week Five (1/31) 101 Call for around $0.01
  • Sell to open the NKE Feb Week One (2/7) 100 Call for around $0.32
  • Set your initial credit limit at $0.31, but adjust if needed to roll today

New Cost Basis: $100.62

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