After its split and shortly post-earnings, NKE still enjoys a fairly high level of volatility such that it offers a 1.00 credit plus premium setup (rank 53/implied 24).
Here's a setup:
NKE 58/67 Feb 12th short strangle
Max Profit: 1.07 credit ($107/contract)
Break Evens: 56.93/68.07
Notes: I ordinarily only want to enter a short...
Although I traditionally see earnings season as beginning with the first play in the alphabet (AA), there are some that occur before AA that I've frequently played. Next week, it's MON, BBBY, and WBA. MON announces earnings on 1/6 before market open (look to put on that play before Tuesday NY close); WBA, 1/7 before market open (put on Wednesday before market...
NKE announces earnings on 12/22 (Tuesday) after market close, so look to put on your play before NY close.
Here's the standard short strangle setup:
Dec 31st 118/141 short strangle
Max Profit: 1.25 credit ($125)/contract
Note: I ran an iron condor setup, but it looks like it will generate less than a .50 credit/contract...