The post-earnings sell-off in On Holding (ONON) is an opportunity, argues Dale Smothers, making the case that fundamentals for the company remain intact despite slowing sales. The stock hit 52-week lows after releasing its report. Dale points to margins and direct-to-consumer growth as key positives from the earnings but believes further strength also hinges on the macro environment. Tom White offers an example options trade for On Holding.