Looking At Nike's Recent Whale Trades

Looking At Nike's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Nike NKE.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 50 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 36 are puts, for a total amount of $2,102,967, and 14 are calls, for a total amount of $752,942.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $150.0 for Nike over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Nike options trades today is 1403.66 with a total volume of 7,237.00.

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 $65.0 to $150.0 over the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NKE PUT TRADE BEARISH 03/17/23 $80.00 $235.0K 129 15
NKE PUT SWEEP NEUTRAL 01/20/23 $85.00 $205.0K 7.2K 836
NKE CALL SWEEP BEARISH 01/19/24 $110.00 $165.1K 2.4K 420
NKE PUT TRADE BULLISH 09/30/22 $118.00 $149.9K 64 0
NKE PUT SWEEP BEARISH 06/16/23 $85.00 $136.1K 1.3K 225

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NKE PUT TRADE BEARISH 03/17/23 $80.00 $235.0K 129 15
NKE PUT SWEEP NEUTRAL 01/20/23 $85.00 $205.0K 7.2K 836
NKE CALL SWEEP BEARISH 01/19/24 $110.00 $165.1K 2.4K 420
NKE PUT TRADE BULLISH 09/30/22 $118.00 $149.9K 64 0
NKE PUT SWEEP BEARISH 06/16/23 $85.00 $136.1K 1.3K 225

Where Is Nike Standing Right Now?

  • With a volume of 7,722,804, the price of NKE is up 0.5% at $96.54.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 2 days.

What The Experts Say On Nike:

  • Citigroup has decided to maintain their Neutral rating on Nike, which currently sits at a price target of $113.
  • Telsey Advisory Group has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $125.
  • RBC Capital downgraded its action to Outperform with a price target of $125
  • Deutsche Bank has decided to maintain their Buy rating on Nike, which currently sits at a price target of $123.
  • Cowen & Co. has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $124.

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.

Posted In: BZI-UOAOptionsMarkets