Whales with a lot of money to spend have taken a noticeably bearish stance on Nike.
Looking at options history for Nike NKE we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $161,738 and 4, calls, for a total amount of $112,602.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $115.0 for Nike, spanning the last three months.
Analyzing Volume & Open Interest
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 $100.0 to $115.0 over the preceding 30 days.
Nike Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $115.00 | $40.7K | 338 | 230 |
| NKE | PUT | SWEEP | NEUTRAL | 03/15/24 | $115.00 | $40.4K | 338 | 175 |
| NKE | PUT | SWEEP | BEARISH | 03/15/24 | $115.00 | $40.4K | 338 | 65 |
| NKE | PUT | TRADE | NEUTRAL | 03/15/24 | $115.00 | $40.1K | 338 | 10 |
| NKE | CALL | SWEEP | BEARISH | 01/19/24 | $115.00 | $30.0K | 11.1K | 140 |
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.
Current Position of Nike
- Currently trading with a volume of 907,170, the NKE's price is up by 0.99%, now at $110.98.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 days.
Professional Analyst Ratings for Nike
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $116.0.
- An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $124.
- An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $108.
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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