A whale with a lot of money to spend has taken a noticeably bullish stance on Nike.
Looking at options history for Nike NKE we detected 51 strange trades.
If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 34 are puts, for a total amount of $1,783,972 and 17, calls, for a total amount of $1,428,657.
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 $47.5 to $125.0 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 1381.19 with a total volume of 15,031.00.
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 $47.5 to $125.0 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 | CALL | SWEEP | BULLISH | 06/16/23 | $100.00 | $592.1K | 1.1K | 1.8K |
| NKE | PUT | SWEEP | BULLISH | 01/19/24 | $110.00 | $370.5K | 2.7K | 157 |
| NKE | CALL | SWEEP | BEARISH | 06/16/23 | $100.00 | $116.2K | 1.1K | 169 |
| NKE | PUT | TRADE | BULLISH | 04/21/23 | $95.00 | $113.0K | 426 | 110 |
| NKE | CALL | SWEEP | BULLISH | 06/16/23 | $100.00 | $105.5K | 1.1K | 457 |
Where Is Nike Standing Right Now?
- With a volume of 5,693,956, the price of NKE is up 4.05% at $91.58.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 55 days.
What The Experts Say On Nike:
- UBS has decided to maintain their Buy rating on Nike, which currently sits at a price target of $141.
- Piper Sandler has decided to maintain their Neutral rating on Nike, which currently sits at a price target of $95.
- Raymond James downgraded its action to Outperform with a price target of $99
- Telsey Advisory Group has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $110.
- Barclays has decided to maintain their Equal-Weight rating on Nike, which currently sits at a price target of $83.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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