Financial giants have made a conspicuous bullish move on Nike. Our analysis of options history for Nike NKE revealed 13 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $293,904, and 6 were calls, valued at $359,127.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $82.5 to $115.0 for Nike over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Nike stands at 1963.67, with a total volume reaching 4,601.00. 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 $82.5 to $115.0, throughout the last 30 days.
Nike Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | NEUTRAL | 01/12/24 | $99.00 | $149.7K | 364 | 16 |
| NKE | PUT | SWEEP | BULLISH | 01/17/25 | $82.50 | $75.0K | 920 | 227 |
| NKE | CALL | TRADE | BULLISH | 02/02/24 | $107.00 | $69.8K | 98 | 1.4K |
| NKE | PUT | SWEEP | BULLISH | 04/19/24 | $100.00 | $47.5K | 3.9K | 333 |
| NKE | CALL | TRADE | BEARISH | 02/02/24 | $107.00 | $45.2K | 98 | 705 |
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.
Where Is Nike Standing Right Now?
- With a volume of 1,863,237, the price of NKE is up 0.2% at $102.5.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 74 days.
Expert Opinions on Nike
5 market experts have recently issued ratings for this stock, with a consensus target price of $122.4.
- An analyst from DZ Bank has elevated its stance to Buy, setting a new price target at $130.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Nike, targeting a price of $128.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Nike, targeting a price of $118.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Nike, targeting a price of $129.
- An analyst from Piper Sandler persists with their Neutral rating on Nike, maintaining a target price of $107.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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