Financial giants have made a conspicuous bearish move on Nike. Our analysis of options history for Nike NKE revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $423,368, and 4 were calls, valued at $252,118.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $97.5 to $155.0 for Nike over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Nike's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Nike's substantial trades, within a strike price spectrum from $97.5 to $155.0 over the preceding 30 days.
Nike Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | CALL | SWEEP | BULLISH | 12/15/23 | $105.00 | $130.2K | 5.1K | 43 |
| NKE | PUT | TRADE | BEARISH | 01/19/24 | $97.50 | $125.0K | 6.8K | 1.0K |
| NKE | CALL | SWEEP | NEUTRAL | 09/20/24 | $120.00 | $58.1K | 164 | 11 |
| NKE | PUT | TRADE | BEARISH | 09/20/24 | $105.00 | $48.6K | 682 | 598 |
| NKE | CALL | SWEEP | BEARISH | 03/15/24 | $115.00 | $32.5K | 1.9K | 202 |
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, 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.
After a thorough review of the options trading surrounding Nike, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Nike
- With a trading volume of 1,215,402, the price of NKE is down by -0.62%, reaching $107.25.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 27 days from now.
Professional Analyst Ratings for Nike
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $116.0.
- An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $108.
- In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $124.
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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