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David Bartosiak's Nike Trade

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David Bartosiak's Nike Trade
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Speaking on Bloomberg Markets, David Bartosiak, a momentum stock strategist at Zacks.com, recommended a long position in Nike Inc (NYSE: NKE).

He wants to use options to make a bullish bet on Nike Inc ahead of earnings report on Tuesday. He thinks traders are going to be focused on the next quarter guidance instead of on earnings for the current quarter. With Kevin Durant's move to Golden State Warriors, he expects to see a good guidance as customers start to move back from Under Armour Inc (NYSE: UA).

Bartosiak wants to buy the October 55/58 call spread for $1.30. The break even for the trade is at $56.30 and it can maximally make $1.70, if the stock jumps to $58 or higher at the October 21 expiration.

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Posted-In: Bloomberg Markets David Bartosiak Zacks.comOptions Markets Media Trading Ideas

 

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