Nike (NKE) has been in the news a lot lately and will announce earnings on September 25. Let's take a look at a diagonal trade. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

Specifically:

• A review of last week
• What happened to the SPX?
• Did you get out, or did you get the stupid award?
• NKE is near all-time highs
• Setting up the trade
• Selecting strikes and expirations
• Pay attention to the delta of the trade
• Addressing different scenarios

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].