Behind the Scenes of Nike's Latest Options Trends

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 17 extraordinary options activities for Nike. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 35% leaning bullish and 52% bearish. Among these notable options, 5 are puts, totaling $235,090, and 12 are calls, amounting to $630,783.

Expected Price Movements

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 $90.0 for Nike over the last 3 months.

Analyzing 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 $50.0 to $90.0 in the last 30 days.

Nike 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.

Current Position of Nike

• With a volume of 5,737,203, the price of NKE is down -2.16% at $77.77.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 21 days.

What The Experts Say On Nike

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $84.0.

• Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Nike, targeting a price of $79.
• In a cautious move, an analyst from Piper Sandler downgraded its rating to Neutral, setting a price target of $80.
• Showing optimism, an analyst from Williams Trading upgrades its rating to Buy with a revised price target of $93.

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.