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 10 trades.
If we consider the specifics of each trade, it is accurate to state that 20% of the investors opened trades with bullish expectations and 80% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $197,500 and 8, calls, for a total amount of $490,515.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $90.0 to $120.0 for Nike during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Nike's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Nike's substantial trades, within a strike price spectrum from $90.0 to $120.0 over the preceding 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | TRADE | NEUTRAL | 12/22/23 | $120.00 | $100.0K | 108 | 0 |
| NKE | PUT | TRADE | BEARISH | 12/22/23 | $120.00 | $97.5K | 108 | 500 |
| NKE | CALL | TRADE | BEARISH | 01/17/25 | $115.00 | $89.7K | 1.0K | 0 |
| NKE | CALL | TRADE | BEARISH | 12/22/23 | $120.00 | $88.9K | 1.7K | 538 |
| NKE | CALL | TRADE | NEUTRAL | 12/22/23 | $120.00 | $88.7K | 1.7K | 23 |
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, 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.
Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.
Nike's Current Market Status
- Currently trading with a volume of 1,188,585, the NKE's price is up by 0.63%, now at $119.36.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 9 days.
Professional Analyst Ratings for Nike
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $128.0.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $108.
- In a positive move, an analyst from DZ Bank has upgraded their rating to Buy and adjusted the price target to $130.
- In a cautious move, an analyst from Goldman Sachs downgraded its rating to Buy, setting a price target of $139.
- Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $135.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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