Looking At Nike's Recent Unusual Options Activity

High-rolling investors have positioned themselves bearish on Nike NKE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NKE often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Nike. This is not a typical pattern.

The sentiment among these major traders is split, with 22% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $85,239, and 8 calls, totaling $320,310.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $85.0 for Nike over the recent three months.

Analyzing Volume & Open Interest

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 $50.0 to $85.0 in the last 30 days.

Nike Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

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

• With a trading volume of 3,276,469, the price of NKE is down by -0.27%, reaching $84.05.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 30 days from now.

Expert Opinions on Nike

In the last month, 3 experts released ratings on this stock with an average target price of $84.0.

• An analyst from Piper Sandler downgraded its action to Neutral with a price target of $80.
• In a positive move, an analyst from Williams Trading has upgraded their rating to Buy and adjusted the price target to $93.
• An analyst from Stifel has decided to maintain their Hold rating on Nike, which currently sits at a price target of $79.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with Benzinga Pro for real-time alerts.