Investors with a lot of money to spend have taken a bullish 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 9 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 11%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $131,127, and 6 are calls, for a total amount of $220,620.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $115.0 for Nike, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Nike's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Nike's whale trades within a strike price range from $65.0 to $115.0 in the last 30 days.
Nike Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | PUT | SWEEP | BULLISH | 07/12/24 | $11.3 | $9.55 | $9.55 | $86.00 | $63.0K | 189 | 0 |
| NKE | CALL | SWEEP | BULLISH | 07/19/24 | $0.59 | $0.55 | $0.59 | $80.00 | $59.0K | 24.2K | 363 |
| NKE | PUT | TRADE | NEUTRAL | 07/05/24 | $8.95 | $7.45 | $8.2 | $85.00 | $40.9K | 1.9K | 0 |
| NKE | CALL | SWEEP | NEUTRAL | 10/18/24 | $2.05 | $2.04 | $2.05 | $85.00 | $40.8K | 2.6K | 214 |
| NKE | CALL | TRADE | BULLISH | 03/21/25 | $3.55 | $2.91 | $3.55 | $90.00 | $35.5K | 2.8K | 0 |
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
Nike's Current Market Status
- With a volume of 991,283, the price of NKE is down -0.42% at $76.51.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 86 days.
What The Experts Say On Nike
5 market experts have recently issued ratings for this stock, with a consensus target price of $101.4.
- An analyst from Wells Fargo persists with their Overweight rating on Nike, maintaining a target price of $115.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Nike with a target price of $104.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Nike, targeting a price of $102.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Nike, targeting a price of $81.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Nike, targeting a price of $105.
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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