Looking At Nike's Recent Unusual Options Activity

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

Looking at options history for Nike NKE we detected 34 trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $1,436,548 and 23, calls, for a total amount of $3,205,382.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $105.0 for Nike, spanning the last three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Nike options trades today is 4474.17 with a total volume of 11,628.00.

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 $35.0 to $105.0 over the last 30 days.

Nike Call and Put Volume: 30-Day Overview

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.

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.

Current Position of Nike

• Trading volume stands at 8,681,591, with NKE's price up by 0.13%, positioned at $76.49.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 85 days.

What Analysts Are Saying About Nike

In the last month, 5 experts released ratings on this stock with an average target price of $70.8.

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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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Nike, targeting a price of $64. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Nike, targeting a price of $73. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Nike with a target price of $70. * An analyst from Goldman Sachs persists with their Buy rating on Nike, maintaining a target price of $81. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Nike with a target price of $66.

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