Smart Money Is Betting Big In NKE Options

Investors with a lot of money to spend have taken a bullish stance on Nike NKE.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 42 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 40%, bearish.

Out of all of the special options we uncovered, 24 are puts, for a total amount of $2,041,210, and 18 are calls, for a total amount of $1,352,735.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $82.5 for Nike over the recent three 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 $45.0 to $82.5 in the last 30 days.

Nike Call and Put Volume: 30-Day Overview

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.

In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Nike Standing Right Now?

• With a trading volume of 40,017,151, the price of NKE is down by -10.47%, reaching $58.16.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 84 days from now.

What Analysts Are Saying About Nike

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $83.0.

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. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Nike, targeting a price of $80. * Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Nike, targeting a price of $99. * An analyst from JP Morgan has decided to maintain their Neutral rating on Nike, which currently sits at a price target of $64. * An analyst from BMO Capital has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $92. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Nike with a target price of $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.