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On Thursday, Nike (NKE – 37-3/16) posted first-quarter earnings of 77 cents per share, topping brokers' predictions by three cents per share. The company also backed its year 2000 earnings estimates of $2.35 per share. What's more, NKE revealed this morning that it is on the verge of signing golfer Tiger Woods to an endorsement contract worth about $100 million, which is believed to be the richest in sports.
Yesterday, the stock moved over one percent lower to remain below its descending 10-day moving average. The shares have logged only one close above this short-term trendline since August 18. The security also has retreated by nearly 22 percent since its near-term intraday high on August 9. This morning, NKE has stepped back by more than two percent.
Schaeffer's put/call open interest ratio (SOIR) on NKE now stands at an annual high of 1.06, which indicates that total put open interest exceeds total call open interest by six percent for options expiring within the next three months. Please visit Schaeffer's Daily Sentiment for additional information about SOIR.