This Is What Whales Are Betting On Nike

This Is What Whales Are Betting On Nike

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 12 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $783,004, and 2 are calls, for a total amount of $320,840.

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 $100.0 to $180.0 for Nike over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Nike's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Nike's whale activity within a strike price range from $100.0 to $180.0 in 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 01/20/23 $120.00 $183.9K 5.6K 1.5K
NKE PUT TRADE BULLISH 02/17/23 $105.00 $165.3K 1.0K 480
NKE PUT SWEEP BULLISH 01/13/23 $101.00 $137.8K 9 500
NKE CALL TRADE BULLISH 01/20/23 $120.00 $136.8K 5.6K 526
NKE PUT SWEEP BEARISH 02/17/23 $100.00 $98.6K 1.8K 280

Where Is Nike Standing Right Now?

  • With a volume of 1,451,506, the price of NKE is up 1.39% at $109.84.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 12 days.

What The Experts Say On Nike:

  • RBC Capital has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $120.

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