Nike Unusual Options Activity For May 30

Deep-pocketed investors have adopted a bullish 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 14 extraordinary options activities for Nike. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 35% bearish. Among these notable options, 4 are puts, totaling $352,335, and 10 are calls, amounting to $457,041.

Latest Startup Investment Opportunities:

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $27.5 to $82.5 for Nike during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Nike stands at 5887.45, with a total volume reaching 7,997.00. 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 $27.5 to $82.5, 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.

Where Is Nike Standing Right Now?

• With a volume of 2,207,272, the price of NKE is down -1.29% at $60.65.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 27 days.

What The Experts Say On Nike

5 market experts have recently issued ratings for this stock, with a consensus target price of $62.2.

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 Barclays has decided to maintain their Equal-Weight rating on Nike, which currently sits at a price target of $60. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Nike, targeting a price of $70. * An analyst from JP Morgan has decided to maintain their Neutral rating on Nike, which currently sits at a price target of $56. * An analyst from RBC Capital has decided to maintain their Sector Perform rating on Nike, which currently sits at a price target of $65. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Nike with a target price of $60.

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.