Investors with a lot of money to spend have taken a bearish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 37 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.
Out of all of the special options we uncovered, 24 are puts, for a total amount of $1,761,335, and 13 are calls, for a total amount of $1,129,470.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $140.0 for Nike over the recent three months.
Insights into 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 $80.0 to $140.0 over the preceding 30 days.
Nike Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BEARISH | 07/19/24 | $120.00 | $299.3K | 548 | 483 |
| NKE | CALL | SWEEP | BULLISH | 01/17/25 | $97.50 | $244.2K | 622 | 236 |
| NKE | PUT | TRADE | BULLISH | 06/20/25 | $80.00 | $240.0K | 5.0K | 503 |
| NKE | PUT | TRADE | BEARISH | 07/19/24 | $120.00 | $189.2K | 548 | 46 |
| NKE | CALL | TRADE | BEARISH | 01/17/25 | $100.00 | $166.7K | 9.0K | 1.8K |
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.
Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.
Where Is Nike Standing Right Now?
- With a trading volume of 6,582,425, the price of NKE is up by 2.32%, reaching $100.59.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 15 days from now.
Expert Opinions on Nike
1 market experts have recently issued ratings for this stock, with a consensus target price of $110.0.
- An analyst from Oppenheimer downgraded its action to Perform with a price target of $110.
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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