Nike Unusual Options Activity For March 12

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

The general mood among these heavyweight investors is divided, with 31% leaning bullish and 52% bearish. Among these notable options, 19 are puts, totaling $1,287,404, and 19 are calls, amounting to $901,587.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $110.0 for Nike over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Nike stands at 3769.12, with a total volume reaching 11,016.00. 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 $55.0 to $110.0, throughout the last 30 days.

Nike 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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

Where Is Nike Standing Right Now?

• Trading volume stands at 5,733,677, with NKE's price down by -0.53%, positioned at $73.78.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 8 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 $101.67.

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 Jefferies upgraded its action to Buy with a price target of $115. * An analyst from Guggenheim has revised its rating downward to Buy, adjusting the price target to $110. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Nike, targeting a price of $80.

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.