Dan Nathan's Nike Trade - Nike (NYSE:NKE)

, Dan Nathan spoke about the recent performance of

Nike IncNKE

, and he suggested a bearish options strategy to exploit the recent weakness.

Nathan said that the stock performed poorly this year in comparison to the S&P 500 index. It is currently trading at a near-term support and if the company guides down next week, the stock is going to drop to $50, added Nathan. He wants to buy the October 55/50 put spread for $1.25 to make a bearish bet. The trade starts to make money at $53.75 and it can maximally make a profit of $3.75, if the stock drops to $50 or lower.

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