Nike Inc (NKE.N) reported fourth-quarter earnings that beat expectations late Monday, and orders suggested robust strength for the future.


Our Strangle was spot on with NKE

NKE 80 JUL 11 Call at 3.45 - Delta .58
NKE 82.50 JUL 11 Put at 3.45 - Delta . 57
Cost: $6.90

Calls were inflated to 7.55
Puts deflated to .55

Our Straddle was spot on with NKE

NKE 80 JUL 11 Call at 3.45 - Delta .58
NKE 80 JUL 11 Put at 2.26 - Delta .42
Cost: $5.71

Calls were inflated to 7.55
Puts deflated to .26

These calls could have been sold and the puts would remain, could be left to expire worthless. But, I would have taken the calls off and ran with the profit.

APOL maybe a second runner for us to play. Caution with this one is that the earnings are reported after the bell on Firday. Markets will be closed for the 4th of July Weekend......