Deep-pocketed investors have adopted a bullish approach towards Nike NKE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NKE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 13 are puts, totaling $771,940, and 5 are calls, amounting to $399,947.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $110.0 for Nike, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Nike stands at 2661.78, with a total volume reaching 7,057.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nike, situated within the strike price corridor from $65.0 to $110.0, throughout the last 30 days.
Nike Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | CALL | SWEEP | BULLISH | 03/15/24 | $105.00 | $203.6K | 6.4K | 1.2K |
| NKE | PUT | TRADE | BULLISH | 03/15/24 | $100.00 | $159.2K | 7.0K | 654 |
| NKE | CALL | TRADE | BULLISH | 03/15/24 | $105.00 | $92.4K | 6.4K | 1.7K |
| NKE | PUT | TRADE | BULLISH | 01/16/26 | $80.00 | $87.7K | 679 | 150 |
| NKE | PUT | TRADE | BULLISH | 12/19/25 | $65.00 | $58.7K | 581 | 221 |
About Nike
Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales. Its brands include Nike, Jordan, and Converse (casual footwear). Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers. The firm also operates e-commerce platforms in more than 40 countries. Nearly all its production is outsourced to contract manufacturers in more than 30 countries. Nike was founded in 1964 and is based in Beaverton, Oregon.
After a thorough review of the options trading surrounding Nike, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Nike Standing Right Now?
- With a volume of 2,233,926, the price of NKE is up 0.92% at $101.48.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 56 days.
What Analysts Are Saying About Nike
In the last month, 1 experts released ratings on this stock with an average target price of $111.0.
- An analyst from Truist Securities persists with their Hold rating on Nike, maintaining a target price of $111.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Nike options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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