Financial giants have made a conspicuous bearish move on Nike. Our analysis of options history for Nike NKE revealed 37 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 17 were puts, with a value of $793,665, and 20 were calls, valued at $1,757,860.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $120.0 for Nike, spanning the last three months.
Volume & Open Interest Development
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 $75.0 to $120.0 over the preceding 30 days.
Nike Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | BULLISH | 10/18/24 | $100.00 | $735.7K | 1.0K | 1.3K |
| NKE | PUT | TRADE | BEARISH | 01/16/26 | $80.00 | $165.0K | 1.5K | 250 |
| NKE | CALL | SWEEP | BEARISH | 01/17/25 | $100.00 | $115.2K | 9.3K | 713 |
| NKE | CALL | TRADE | BULLISH | 04/05/24 | $95.00 | $105.7K | 1.4K | 764 |
| NKE | PUT | SWEEP | BEARISH | 06/21/24 | $90.00 | $83.4K | 9.4K | 332 |
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.
Present Market Standing of Nike
- Trading volume stands at 5,550,883, with NKE's price up by 0.21%, positioned at $94.06.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 94 days.
Professional Analyst Ratings for Nike
5 market experts have recently issued ratings for this stock, with a consensus target price of $112.6.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Nike, targeting a price of $120.
- An analyst from Morgan Stanley persists with their Overweight rating on Nike, maintaining a target price of $124.
- Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Nike with a target price of $100.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Nike, targeting a price of $120.
- An analyst from Truist Securities has decided to maintain their Hold rating on Nike, which currently sits at a price target of $99.
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.
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