Trump Tariffs: 2 Retail Socks Selling Off

Group 1: Market Reaction - Shares of Nike Inc (NKE) and Lululemon Athletica Inc (LULU) are declining due to President Trump's imposition of tariffs, including a 25% tariff on Mexico and Canada and a 10% levy on China [1] - NKE is down 4.1%, trading at $73.76, and is on track to extend its 26.2$402.07, deepening a 13.2% year-over-year deficit, and is set to end a six-day winning streak [4] Group 2: Technical Analysis - NKE attempted to reach $80 and its 126-day moving average but was rejected during a selloff [2] - LULU has shown a V-shaped rally since hitting a 12-month low of$226.01 on August 5 [4] - LULU's 20-day moving average appears to be supporting today's losses [4] Group 3: Options Activity - Short-term options traders for NKE are leaning bearish, indicated by a Schaeffer's put/call open interest ratio (SOIR) of 1.06, which is in the 96th percentile of annual readings [3] - For LULU, 2,925 puts have been traded, which is double the intraday average, with the most active being the weekly 2/7 405-strike put [5]