Nike is trading near 52-week lows, has formed a new trend of higher-highs and higher-lows, and the 10ema has crossed the 50sma which I love to see.
Would love to get a Pull back to 52. Since I do not expect Nike to go that low I am going to sell some Jan17 52 puts for .26. will enter a long put for account leverage.
The setup is: Trigger:52 Stop: 51.33 Target: 54.68 R:R - 4:1
Plan A: receive .26 premium Plan B: get put shares and own nike Plan C: Manage risk if below stop thru options