A Closer Look at Nike's Options Market Dynamics

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 13 extraordinary options activities for Nike. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 7 are puts, totaling $414,125, and 6 are calls, amounting to $1,269,130.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $100.0 for Nike over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Nike options trades today is 3858.73 with a total volume of 4,825.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Nike's big money trades within a strike price range of $75.0 to $100.0 over the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
NKE CALL TRADE BEARISH 12/20/24 $8.5 $8.35 $8.4 $92.50 $1.0M 803 1.2K
NKE PUT SWEEP BULLISH 05/17/24 $1.98 $1.95 $1.95 $90.00 $223.5K 4.9K 1.2K
NKE CALL TRADE BULLISH 06/21/24 $4.1 $4.05 $4.1 $90.00 $123.0K 2.2K 828
NKE CALL SWEEP BEARISH 05/03/24 $2.54 $2.5 $2.5 $90.00 $50.0K 3.0K 832
NKE PUT TRADE BULLISH 04/19/24 $1.01 $0.96 $0.97 $90.00 $38.8K 10.9K 11

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.

Having examined the options trading patterns of Nike, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Nike

  • Currently trading with a volume of 7,180,230, the NKE's price is up by 1.11%, now at $91.0.
  • RSI readings suggest the stock is currently may be approaching oversold.
  • Anticipated earnings release is in 79 days.

Expert Opinions 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 $113.4.

  • Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Nike, targeting a price of $111.
  • An analyst from Bernstein has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $120.
  • An analyst from Stifel persists with their Buy rating on Nike, maintaining a target price of $117.
  • Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Nike with a target price of $120.
  • An analyst from Truist Securities persists with their Hold rating on Nike, maintaining a target price of $99.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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