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 12 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 8 are puts, totaling $440,616, and 4 are calls, amounting to $201,727.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $82.5 and $130.0 for Nike, spanning the last three 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 $82.5 to $130.0 in the last 30 days.
Nike Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BEARISH | 01/17/25 | $100.00 | $113.1K | 6.2K | 147 |
| NKE | PUT | TRADE | BEARISH | 06/20/25 | $85.00 | $101.0K | 1.3K | 135 |
| NKE | CALL | TRADE | BEARISH | 06/21/24 | $120.00 | $57.8K | 5.7K | 290 |
| NKE | CALL | TRADE | NEUTRAL | 03/01/24 | $98.00 | $55.5K | 203 | 147 |
| NKE | CALL | TRADE | NEUTRAL | 03/01/24 | $98.00 | $53.3K | 203 | 72 |
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.
In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Nike Standing Right Now?
- With a volume of 915,526, the price of NKE is up 0.64% at $105.02.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 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.
- An analyst from Oppenheimer has revised its rating downward to Perform, adjusting the price target to $110.
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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