Nike Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bearish stance on Nike NKE.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 27 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $441,271, and 16 are calls, for a total amount of $1,544,431.

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 $85.0 to $105.0 for Nike over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Nike's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Nike's significant trades, within a strike price range of $85.0 to $105.0, over the past month.

Nike 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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 $7.35 $7.2 $7.2 $100.00 $900.0K 2.2K 1.7K
NKE PUT SWEEP BULLISH 09/20/24 $12.4 $12.3 $12.3 $105.00 $102.0K 2.5K 0
NKE CALL SWEEP BULLISH 10/18/24 $10.7 $10.65 $10.7 $90.00 $92.0K 1.3K 474
NKE CALL TRADE NEUTRAL 01/17/25 $10.35 $10.25 $10.3 $95.00 $72.1K 6.6K 104
NKE CALL SWEEP BEARISH 01/17/25 $10.2 $10.05 $10.09 $95.00 $50.4K 6.6K 294

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.

In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Nike

  • With a trading volume of 3,057,424, the price of NKE is up by 0.58%, reaching $93.94.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 71 days from now.

What Analysts Are Saying About Nike

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $113.8.

  • Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Nike with a target price of $115.
  • An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $100.
  • In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $115.
  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Nike, targeting a price of $114.
  • An analyst from UBS persists with their Buy rating on Nike, maintaining a target price of $125.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!