Deep-pocketed investors have adopted a bearish approach towards Nike NKE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NKE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 6 are puts, totaling $608,354, and 5 are calls, amounting to $252,444.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $150.0 for Nike over the last 3 months.
Insights into 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 $90.0 to $150.0 in the last 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 | 03/28/24 | $90.00 | $365.4K | 96 | 4.2K |
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $95.00 | $79.1K | 9.8K | 2.2K |
| NKE | CALL | TRADE | BULLISH | 02/23/24 | $93.00 | $67.1K | 154 | 70 |
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $95.00 | $58.8K | 9.8K | 953 |
| NKE | CALL | SWEEP | BULLISH | 01/16/26 | $150.00 | $56.8K | 45 | 100 |
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.
Where Is Nike Standing Right Now?
- Currently trading with a volume of 2,885,357, the NKE's price is down by -0.49%, now at $103.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 28 days.
What Analysts Are Saying About Nike
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $110.0.
- In a cautious move, an analyst from Oppenheimer downgraded its rating to Perform, setting a price target of $110.
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.
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