And just like that… 40 million 0DTE call option contracts slapped the tape.
While you and your family were deep in a very serious debate over whether National Lampoon’s Christmas Vacation clears Home Alone (it does), Tim Apple was out here playing Santa for himself… and decided that today was the perfect time to smash “BUY” on $3 million worth of Nike stock.
Yes. That Nike. The one who’s stock has been on a never ending ski trip in Aspen apparently…
(Also: who else was today years old when they found out Tim Cook is apparently a sneakerhead?)
The buy was enough to give Nike a little Christmas miracle, popping the stock 4%+ in a market where it’s been wandering around like a mall Santa who lost his beard for the better part of five years.
Before anyone gets too excited, let’s be clear: sentiment on Nike is still… how do I put this delicately… horrific. Just last week, Goldman Sachs analysts led by Brooke Roach said they were becoming “incrementally cautious” after yet another rough earnings report, citing China demand that keeps vanishing like the Ghost of Christmas Past.
But clearly, Tim sees something the rest of us don’t.
Either that… or Phil Knight promised him a free pair of unreleased Lebron’s if he tossed a few bucks toward the lost cause that is Nike’s stock.
Outside of Tim’s sneaker side quest, the market was pretty chill… in a good way. The S&P 500 (+0.25%) logged another record (shocking, I know), the Dow (+0.4%) moved higher without much fuss, and the Nasdaq (+0.4%) shook off a slow start and followed along as the “Santa Claus Rally” continues to be the gift that keeps on giving.
Also, before you dive into the rest of today’s email below…
I just want to wish you a Merry Christmas and hope you’re enjoying time with family and loved ones… even if you’re counting the minutes until you can escape certain ones.
PS: Because the holidays are an absolute zoo, this will be the last Final Tally email of the week. But have no fear, we’ll be back Monday to give you a five-minute mental break from your sister’s new boyfriend. Stay strong.
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
Market Gossip
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>JPMorgan Is Exploring Crypto Trading for Institutional Clients (Bloomberg): Imagine getting a call while you're in the Hamptons that JPMorgan blew your trust fund money on fartcoin…
At the time of publishing this article, Stocks.News holds positions in Apple and Intel as mentioned in the article.
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