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 9 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 4 are puts, totaling $226,713, and 5 are calls, amounting to $203,440.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $90.0 for Nike over the recent three months.
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 $90.0 in the last 30 days.
Nike Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BEARISH | 12/20/24 | $3.05 | $3.0 | $3.05 | $75.00 | $76.2K | 9.4K | 352 |
| NKE | PUT | SWEEP | BEARISH | 11/15/24 | $6.1 | $6.0 | $6.08 | $85.00 | $53.6K | 2.4K | 243 |
| NKE | CALL | SWEEP | BULLISH | 03/21/25 | $15.8 | $15.7 | $15.8 | $70.00 | $50.5K | 1.5K | 35 |
| NKE | PUT | TRADE | BEARISH | 11/15/24 | $6.1 | $6.0 | $6.1 | $85.00 | $50.0K | 2.4K | 325 |
| NKE | PUT | TRADE | BEARISH | 11/15/24 | $6.1 | $6.0 | $6.08 | $85.00 | $46.8K | 2.4K | 78 |
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.
Present Market Standing of Nike
- Trading volume stands at 3,788,530, with NKE's price down by -1.27%, positioned at $81.9.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 23 days.
What The Experts Say On Nike
In the last month, 3 experts released ratings on this stock with an average target price of $84.0.
- Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Nike with a target price of $79.
- Showing optimism, an analyst from Williams Trading upgrades its rating to Buy with a revised price target of $93.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Neutral with a new price target of $80.
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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