Investors with a lot of money to spend have taken a bullish stance on Nike NKE.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 19 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 31%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $743,684, and 10 are calls, for a total amount of $837,217.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $120.0 for Nike during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $70.0 to $120.0 in the last 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | BEARISH | 01/16/26 | $13.7 | $13.5 | $13.5 | $100.00 | $270.0K | 924 | 3 |
| NKE | PUT | TRADE | BULLISH | 01/16/26 | $3.45 | $3.2 | $3.25 | $70.00 | $243.7K | 4.6K | 0 |
| NKE | PUT | SWEEP | BULLISH | 10/18/24 | $12.65 | $12.6 | $12.6 | $105.00 | $195.3K | 533 | 0 |
| NKE | CALL | TRADE | BEARISH | 06/28/24 | $3.35 | $3.25 | $3.25 | $95.00 | $113.7K | 1.6K | 378 |
| NKE | CALL | TRADE | BULLISH | 01/17/25 | $8.5 | $8.45 | $8.5 | $97.50 | $94.3K | 850 | 142 |
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.
Present Market Standing of Nike
- With a volume of 4,309,329, the price of NKE is up 1.71% at $94.99.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 10 days.
Expert Opinions on Nike
3 market experts have recently issued ratings for this stock, with a consensus target price of $114.66666666666667.
- An analyst from Deutsche Bank has revised its rating downward to Buy, adjusting the price target to $115.
- An analyst from Morgan Stanley persists with their Overweight rating on Nike, maintaining a target price of $114.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Nike, targeting a price of $115.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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