Rocket Friday Update 03-19-21
FDX and NKE Update - March 19th, 2021
We had 2 trades with earnings last night. Both trades have moved against us. We had a bearish trade in FDX and it's higher this morning, and we had a bullish trade in NKE this morning and it's down slightly. This is how it goes sometimes, we'll see how things open and manage the trades today.
FDX we sold a credit call spread from $280 - $285 for $1. FDX is trading at $277 as of about 8am.
WE bought a NKE call spread from $146 to $157.50 looking for it to trade higher. NKE is trading at about $140 as of 8am.
As we've seen very recently with many of our options trades, the overnight action is not always indicative of the move on the open the next day.
FIVE had quite a pull back yesterday allowing us to get out at almost breakeven. Even with some pretty strong numbers that company struggled to trade higher, which is why we sold a credit call spread above the market, just unfortunate it spiked so much higher the previous evening.
Stay tuned for an update later today as we see how things trade on the open. If NKE gets any type of an acceleration higher on the opening bell don't be afraid to just close out the NKE call spread for some value.
FDX we sold a credit call spread from $280 - $285 for $1. FDX is trading at $277 as of about 8am.
WE bought a NKE call spread from $146 to $157.50 looking for it to trade higher. NKE is trading at about $140 as of 8am.
As we've seen very recently with many of our options trades, the overnight action is not always indicative of the move on the open the next day.
FIVE had quite a pull back yesterday allowing us to get out at almost breakeven. Even with some pretty strong numbers that company struggled to trade higher, which is why we sold a credit call spread above the market, just unfortunate it spiked so much higher the previous evening.
Stay tuned for an update later today as we see how things trade on the open. If NKE gets any type of an acceleration higher on the opening bell don't be afraid to just close out the NKE call spread for some value.
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