What the Options Market Tells Us About Nike

Deep-pocketed investors have adopted a bearish approach towards Nike NKE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NKE usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Nike. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 10 are puts, totaling $667,985, and 8 are calls, amounting to $482,689.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $105.0 for Nike over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Nike options trades today is 2181.55 with a total volume of 4,446.00.

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 $85.0 to $105.0 over the last 30 days.

Nike 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Nike Standing Right Now?

• Trading volume stands at 2,320,871, with NKE's price up by 0.77%, positioned at $93.29.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 92 days.

What The Experts Say On Nike

5 market experts have recently issued ratings for this stock, with a consensus target price of $114.0.

• An analyst from Bernstein has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $120.
• An analyst from Guggenheim has decided to maintain their Buy rating on Nike, which currently sits at a price target of $130.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Nike with a target price of $120.
• In a cautious move, an analyst from Williams Trading downgraded its rating to Sell, setting a price target of $85.
• An analyst from Wedbush has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $115.

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.