Trades See Even More Upside To Nike Shares

Shares of Nike Inc NKE Thursday spiked almost 5% after JPMorgan analysts said in a note to clients that the footwear and apparel leader expects China sales to grow.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that Nike’s stock traded more than twice the average daily volumes.

Calls outpaced puts by almost 3:1, he added. Check out other retail stocks making big moves in the premarket.

There was an institutional buyer of more than 3,000 of the September 135 calls at an average price of $7.90 per contract, Khouw mentioned. The buyer of these contracts is betting that the stock rises by at least 7.5% over the next few months.

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