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 44% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $122,451, and 7 are calls, amounting to $363,445.
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 $85.0 to $100.0 for Nike during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Nike stands at 2739.0, with a total volume reaching 2,713.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nike, situated within the strike price corridor from $85.0 to $100.0, throughout 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 | SWEEP | BEARISH | 06/20/25 | $4.8 | $4.3 | $4.3 | $100.00 | $107.5K | 5.7K | 0 |
| NKE | PUT | SWEEP | BEARISH | 09/27/24 | $2.12 | $1.99 | $2.12 | $87.00 | $84.4K | 1.7K | 874 |
| NKE | CALL | SWEEP | BEARISH | 01/17/25 | $4.0 | $3.85 | $3.85 | $92.50 | $76.6K | 1.5K | 0 |
| NKE | CALL | SWEEP | BEARISH | 01/17/25 | $3.25 | $3.1 | $3.1 | $95.00 | $58.6K | 4.0K | 189 |
| NKE | PUT | SWEEP | BEARISH | 09/27/24 | $1.98 | $1.97 | $1.98 | $87.00 | $38.0K | 1.7K | 817 |
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
- Trading volume stands at 577,497, with NKE's price down by -1.02%, positioned at $85.64.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 8 days.
What The Experts Say On Nike
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $87.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Barclays persists with their Equal-Weight rating on Nike, maintaining a target price of $84. * An analyst from Morgan Stanley persists with their Equal-Weight rating on Nike, maintaining a target price of $79. * An analyst from Piper Sandler downgraded its action to Neutral with a price target of $80. * An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $100. * Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Nike with a target price of $92.
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.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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