Nike (NKE) Offering Possible 13.38% Return Over the Next 6 Calendar Days

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Nike’s most recent trend suggests a bearish bias. One trading opportunity on Nike is a Bear Call Spread using a strike $68.50 short call and a strike $73.50 long call offers a potential 13.38% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $68.50 by expiration. The full premium credit of $0.59 would be kept by the premium seller. The risk of $4.41 would be incurred if the stock rose above the $73.50 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Nike is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Nike is bullish.

The RSI indicator is at 58.39 level which suggests that the stock is neither overbought nor oversold at this time.

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