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 33 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 39% bullish and 36%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $584,600, and 28 are calls, for a total amount of $1,800,834.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $110.0 for Nike during the past quarter.
Volume & Open Interest Trends
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 $45.0 to $110.0 in the last 30 days.
Nike Call and Put Volume: 30-Day Overview
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 | 09/20/24 | $1.26 | $1.25 | $1.25 | $80.00 | $375.0K | 33.2K | 4.4K |
| NKE | PUT | SWEEP | NEUTRAL | 12/20/24 | $33.65 | $32.8 | $32.9 | $110.00 | $289.5K | 8 | 88 |
| NKE | PUT | TRADE | BEARISH | 09/20/24 | $7.5 | $7.35 | $7.5 | $85.00 | $171.7K | 10.8K | 232 |
| NKE | CALL | SWEEP | BULLISH | 08/16/24 | $6.0 | $5.95 | $6.0 | $70.00 | $120.0K | 1.3K | 12 |
| NKE | CALL | TRADE | BULLISH | 09/20/24 | $1.99 | $1.99 | $1.99 | $80.00 | $99.5K | 33.2K | 12.6K |
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.
Having examined the options trading patterns of Nike, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Nike's Current Market Status
- With a trading volume of 8,674,781, the price of NKE is up by 5.18%, reaching $78.51.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 44 days from now.
Professional Analyst Ratings for Nike
In the last month, 1 experts released ratings on this stock with an average target price of $71.0.
- An analyst from TD Cowen persists with their Hold rating on Nike, maintaining a target price of $71.
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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