Spotlight on Nike: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Nike.

Looking at options history for Nike NKE we detected 15 trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $745,330 and 7, calls, for a total amount of $376,441.

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Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $70.0 for Nike during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Nike stands at 6182.73, with a total volume reaching 7,283.00. 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 $55.0 to $70.0, throughout the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

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

• Trading volume stands at 8,708,833, with NKE's price up by 2.68%, positioned at $58.57.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 50 days.

What Analysts Are Saying About Nike

5 market experts have recently issued ratings for this stock, with a consensus target price of $63.8.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Williams Trading keeps a Buy rating on Nike with a target price of $73. * An analyst from Citigroup has decided to maintain their Neutral rating on Nike, which currently sits at a price target of $57. * An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $55. * An analyst from Piper Sandler persists with their Overweight rating on Nike, maintaining a target price of $70. * An analyst from Stifel has decided to maintain their Hold rating on Nike, which currently sits at a price target of $64.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with Benzinga Pro for real-time alerts.