Spotlight on Nike: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on Nike. Our analysis of options history for Nike NKE revealed 36 unusual trades.

Delving into the details, we found 47% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 21 were puts, with a value of $2,493,996, and 15 were calls, valued at $922,138.

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What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $105.0 for Nike, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Nike stands at 3427.04, with a total volume reaching 8,228.00. 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 $40.0 to $105.0, throughout the last 30 days.

Nike 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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 (premium athletic footwear and clothing), 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.

Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.

Nike's Current Market Status

• Currently trading with a volume of 6,384,209, the NKE's price is down by -0.07%, now at $54.79.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 71 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 $76.6.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from RBC Capital persists with their Sector Perform rating on Nike, maintaining a target price of $66. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Nike, targeting a price of $85. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Nike with a target price of $82. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Nike with a target price of $80. * An analyst from Piper Sandler persists with their Overweight rating on Nike, maintaining a target price of $70.

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.