$NKE daily pick: sell Nov 20 $32.50 put (buy-side)

$NKE: I'm getting paid to wait for a price under the 52-week low.

Selling the Nov 20 $32.50 put for about $0.64
27% below the 200-day
About 17x trailing earnings vs a 5-year average near 28x
Breakeven $31.86, just under the $31.97 low

I think a lot of the bad news is priced in because Nike is down more than 50% from its 2025 high and still pays about a 4.7% dividend. That's about 2% in 37 days (~20% annualized) and if I get assigned I'm happy owning it at $31.86.

Not financial advice

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Why not just buy the stock? It's still in a downtrend under a falling 200-day ($47.77). I'd rather let the market come to me and collect premium while the turnaround plays out.

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Risk: sales were down about 4% last quarter vs a year ago and analysts expect lower earnings next fiscal year, so this is a turnaround bet and not a sure thing. Size it like you're buying 100 shares, not like it's free money.

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Expiration is before the Dec 17 earnings report, so there's no earnings gap risk in this one.

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What I'd watch: a close back above the 50-day ($37.87) makes me more confident. A break well under $31.97 means I'm early.

Sources: FMP: NKE quote, price history, 50/200 DMA, 52-week range, TTM ratios, dividends · Robinhood: NKE 2026-11-20 $32.50 put quote (bid 0.64, delta -0.25, IV 37.8%, 77% chance of profit) · X: live $NKE cashtag chatter (NKE in the Oct 13 trending cashtag pull) · SEC EDGAR: NKE filings

Not financial advice. For informational and educational purposes only.