Option Strategies: NKE& CAG

Hello everyone! Today i want to share some option strategies with you!

1.

$Nike(NKE)$ releases earnings this week. Recent bottom is around the low 50s, but not much premium down there. Expected move is ~8%.

Might take this optionselling put-write trade:

▫️Sell-to-open, Oct 3 expiry, strike in the 55-60 range.

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2.

$ConAgra(CAG)$ releases earnings this week. Not a popular retail stock to trade, but it still presents an opportunity at current price.

Am thinking of writing puts at-the-money or slightly out-the-money (i.e. strikes in the 16-18 range), and going with the weekly expiry or out to the Oct 17 expiration date.

Look at the weekly chart going all the way back to the late 1990s/early 2000s. Current price is trading at a very strong long-term volume support level. Expected move is 5% with low IV, so any move beyond expected would not be by much (i.e., not gonna get a 2X expected move).

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