We own a diagonal call spread in NKE. The stock is currently right around our short call strike. We have purchased a few shares of stock and will place a stop loss on the shares. This will delta hedge and create a better situation if the stock moves higher. If the stock falls down to hit our stop loss, then the odds of the short call expiring for a max gain improve. The details are as follows: Bought 35 shares of NKE at 77.27
We have a pending GTC stop loss on those shares.
Sell 35 shares of NKE
Stop price: 74.73
GTC (good til canceled) order on the stop loss