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Mike Khouw spoke on CNBC's "Options Action" about unusually high options activity in Nike Inc (NYSE:NKE). The put options volume was over five times the average daily put volume and most of the activity was concentrated in the June 52 puts.
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Around 20,000 contracts of the June 52 puts were traded as a block for 90 cents on Thursday. The trade breaks even at $51.10 or 3.40 percent below the current stock price. Khouw added that the company reports earnings on June 29, while the puts expire on June 30. The stock moves usually around 5 percent on earnings, so Khouw thinks that puts in Nike are reasonably priced.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.