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 20 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 60% bearish. Among these notable options, 12 are puts, totaling $731,836, and 8 are calls, amounting to $747,493.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $92.5 for Nike over the last 3 months.
Volume & Open Interest Trends
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 $92.5 in the last 30 days.
Nike Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | BEARISH | 12/20/24 | $1.41 | $1.3 | $1.3 | $92.50 | $461.5K | 3.5K | 3.5K |
| NKE | PUT | SWEEP | BEARISH | 11/15/24 | $3.5 | $3.45 | $3.5 | $70.00 | $101.5K | 3.5K | 290 |
| NKE | PUT | SWEEP | BEARISH | 01/17/25 | $0.95 | $0.86 | $0.95 | $55.00 | $95.1K | 1.9K | 1.7K |
| NKE | PUT | TRADE | BEARISH | 01/17/25 | $0.95 | $0.91 | $0.95 | $55.00 | $95.0K | 1.9K | 2.8K |
| NKE | PUT | SWEEP | BULLISH | 01/16/26 | $14.15 | $13.4 | $13.45 | $80.00 | $67.2K | 7.7K | 50 |
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.
Current Position of Nike
- With a volume of 2,512,664, the price of NKE is up 1.56% at $73.75.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 49 days.
What The Experts Say On Nike
1 market experts have recently issued ratings for this stock, with a consensus target price of $71.0.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Nike with a target price of $71.
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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