Nike's technical setup shows poor risk-reward with trapped buyers; bounces are expected to be sold into.

There's a lot of stuff happening when Nike earnings. Oh, let's check in on Nike. How'd that finish? Look at that. It's opening dead flat. That probably still has Couple shakeout moves left in it.

Did you uh did you trade Nike at all? No. And again, you know, full disclosure, it wasn't last earnings. It was two earnings ago. I think the stock was trading 60ish or something.

And um didn't do too well with an earnings play. And that doesn't mean that I won't trade it again here, but I Nike that I didn't think the opportunity was there. I didn't think there was any big advantage in um implied V from selling

Nike. Um, Nike is uh I don't even know why I keep looking at that one. Actually, I'm gonna just stop.

Um I I also tried to mess around. I thought Nike was going to go lower last week. Um, and it kind of like was a miserable trade, but sometimes you could get like a power move either up or down.

The day after and this morning it got a drop. Um, started getting in and now it's looking like it's in the climb. I think I'm just going to probably be done trading this for the day already.

Yeah. You know, as long as it holds that 30 to 80, it could potentially be long action, but there's a lot of lot of trapped buyers in here. I mean, really, there are a lot of trapped buyers in here.

So, the bounces are bounces are are going to be sells. And, you know, there's that earnings candle. It's just sitting right in the middle of that box. It's I don't I don't love um I don't I don't I don't love the riskreward there.

Right. I'm I uh I'd look for a more asymmetric bet.

Wither, I agree with you about Nike. Um, I own puts on it.