Deep-pocketed investors have adopted a bearish 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 27 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 51% bearish. Among these notable options, 15 are puts, totaling $733,720, and 12 are calls, amounting to $600,136.
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 $60.0 and $140.0 for Nike, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Nike's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Nike's whale activity within a strike price range from $60.0 to $140.0 in the last 30 days.
Nike Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | PUT | TRADE | BULLISH | 05/10/24 | $0.81 | $0.75 | $0.76 | $88.00 | $190.0K | 0 | 1 |
| NKE | PUT | SWEEP | BEARISH | 06/21/24 | $2.61 | $2.58 | $2.61 | $90.00 | $104.4K | 9.5K | 538 |
| NKE | CALL | SWEEP | NEUTRAL | 06/21/24 | $2.85 | $2.83 | $2.85 | $95.00 | $99.7K | 3.1K | 806 |
| NKE | CALL | SWEEP | BULLISH | 07/19/24 | $4.65 | $4.55 | $4.65 | $95.00 | $93.0K | 1.6K | 226 |
| NKE | CALL | TRADE | NEUTRAL | 01/17/25 | $6.95 | $6.8 | $6.88 | $100.00 | $68.8K | 12.7K | 191 |
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 7,621,291, the price of NKE is down -1.57% at $92.5.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 87 days.
What The Experts Say On Nike
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $114.0.
- An analyst from Williams Trading downgraded its action to Sell with a price target of $85.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Nike, targeting a price of $120.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Nike, targeting a price of $120.
- An analyst from Baird persists with their Outperform rating on Nike, maintaining a target price of $125.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Nike, which currently sits at a price target of $120.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Nike, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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