Financial giants have made a conspicuous bullish move on Nike. Our analysis of options history for Nike NKE revealed 9 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $156,820, and 6 were calls, valued at $328,609.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $79.0 and $120.0 for Nike, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Nike options trades today is 1770.67 with a total volume of 4,277.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Nike's big money trades within a strike price range of $79.0 to $120.0 over the last 30 days.
Nike Option Activity Analysis: 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 | CALL | SWEEP | BULLISH | 09/27/24 | $0.63 | $0.62 | $0.64 | $88.00 | $126.8K | 3.4K | 3.5K |
| NKE | PUT | TRADE | BEARISH | 12/18/26 | $27.45 | $25.65 | $27.5 | $110.00 | $68.7K | 95 | 25 |
| NKE | CALL | SWEEP | BULLISH | 09/27/24 | $3.2 | $3.05 | $3.2 | $85.00 | $64.0K | 2.3K | 519 |
| NKE | PUT | SWEEP | BEARISH | 01/17/25 | $13.8 | $13.7 | $13.8 | $100.00 | $53.8K | 907 | 90 |
| NKE | CALL | TRADE | BULLISH | 10/11/24 | $9.7 | $9.6 | $9.7 | $79.00 | $38.8K | 913 | 41 |
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.
Where Is Nike Standing Right Now?
- With a trading volume of 3,836,512, the price of NKE is up by 1.95%, reaching $87.88.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
Expert Opinions on Nike
5 market experts have recently issued ratings for this stock, with a consensus target price of $88.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Nike, which currently sits at a price target of $79. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Nike, which currently sits at a price target of $95. * An analyst from B of A Securities downgraded its action to Buy with a price target of $104. * An analyst from Barclays persists with their Equal-Weight rating on Nike, maintaining a target price of $84. * An analyst from Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $80.
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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