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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.
Out of all of the options we uncovered, 13 are puts, for a total amount of $591,196, and there was 1 call, for a total amount of $47,950.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $120.0 for Nike over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Nike options trades today is 3641.0 with a total volume of 2,998.00.
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 $105.0 to $120.0 over the last 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BULLISH | 03/15/24 | $120.00 | $62.3K | 765 | 230 |
| NKE | PUT | SWEEP | BULLISH | 03/15/24 | $120.00 | $53.3K | 765 | 165 |
| NKE | PUT | TRADE | BEARISH | 03/15/24 | $120.00 | $50.5K | 765 | 396 |
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $115.00 | $50.4K | 990 | 90 |
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $120.00 | $50.4K | 765 | 337 |
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.
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
Current Position of Nike
- With a trading volume of 3,265,244, the price of NKE is down by -0.78%, reaching $115.21.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 14 days from now.
What Analysts Are Saying About Nike
In the last month, 2 experts released ratings on this stock with an average target price of $123.5.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $108.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $139.
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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