Financial giants have made a conspicuous bullish move on Nike. Our analysis of options history for Nike NKE revealed 11 unusual trades.
Delving into the details, we found 54% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $229,640, and 7 were calls, valued at $306,876.
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 $145.0 for Nike over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Nike options trades today is 1452.09 with a total volume of 844.00.
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 $80.0 to $145.0 over the last 30 days.
Nike Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BEARISH | 07/19/24 | $115.00 | $101.3K | 370 | 65 |
| NKE | CALL | SWEEP | BULLISH | 05/17/24 | $90.00 | $88.4K | 31 | 81 |
| NKE | PUT | SWEEP | BEARISH | 06/20/25 | $90.00 | $58.1K | 441 | 83 |
| NKE | CALL | SWEEP | BEARISH | 10/18/24 | $105.00 | $50.9K | 230 | 61 |
| NKE | CALL | TRADE | BULLISH | 03/22/24 | $86.00 | $45.9K | 37 | 30 |
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
Present Market Standing of Nike
- Trading volume stands at 2,066,801, with NKE's price up by 0.8%, positioned at $100.98.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 8 days.
Expert Opinions on Nike
4 market experts have recently issued ratings for this stock, with a consensus target price of $118.5.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $110.
- An analyst from Morgan Stanley persists with their Overweight rating on Nike, maintaining a target price of $124.
- An analyst from Guggenheim persists with their Buy rating on Nike, maintaining a target price of $130.
- In a cautious move, an analyst from Oppenheimer downgraded its rating to Perform, setting a price target of $110.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Nike, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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