Nike Set To Report Earnings Thursday — Options Market Implies 6% Move

NIKE, Inc NKE is expected to report financial results for its first quarter, after the closing bell on Sept. 28, 2023.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Nike traded around 1.6x its average daily call volume on Wednesday.

The options market is implying a move of around +/-6%, which is in-line with the historical average.

Don’t forget to check out our premarket coverage here

Large options traders purchased 1,000 of the September weekly 95-calls at an average price of 73 cents per share, Khouw mentioned.

Traders expect Nike’s stock to trade higher following the release of quarterly earnings. 

Analysts expect Nike to post quarterly earnings at 70 cents per share on revenue of $12.26 billion after the closing bell.

Price Action: Nike shares fell 0.8% to close at $89.42 on Wednesday, but was up 0.3% in Thursday’s premarket trading session.

Check This Out: US Stocks Remain Volatile As Fear Continues To Grip Markets

Photo: Shutterstock