Short shares of NKE - earnings soon. I don't expect them to be positive, personally.
COVER BEFORE EARNININGS unless you are looking for a gamble.
Depending on risk: Set a stop-loss around 101.72 to 107.05 Take profits around 88.05 - 80.63 -- Be wary of the trendline; it could bounce off, so if you're looking to manage the trade, that is what you'd want to keep an eye on.
I don't expect profit zones to be reached, but nonetheless am keeping a stop in those zones. My trade will likely be based off of any quick move down that begins to lose sustainability; that will be my exit, especially going into earnings.
You can play this via puts as well. The reason I am not doing so is simply due to the high implied volatility going into earnings; however, there are some decent opportunities I could see there, worth checking out if you are familiar with options.