Today I bought a June 65 Call on NKE for 2.70. NKE is Nike. I have watched this stock periodically for some time. The stock is showing a support pattern around its 50 day moving average after backing off from all time highs in March of this year.
One interesting aspect of Nike is that the stock tends to perform very well during the weeks the Olympics are held. The summer olympics are stronger than the winter olympics as well. I know that the Olympics are in August and that past tendency is not enough for me to trade off of, but this bit of history is a nice addition to other factors I find favorable about this trade set-up.
The stop loss for this trade is tight. The stock is currently at 65.80. If the stock closes below 64.19 I will exit with the loss.
Pete
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