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 13 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 46% bearish. Among these notable options, 8 are puts, totaling $539,942, and 5 are calls, amounting to $257,815.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $95.0 for Nike during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Nike options trades today is 4737.2 with a total volume of 2,084.00.
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 $60.0 to $95.0 over 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 | BEARISH | 01/17/25 | $16.4 | $16.3 | $16.4 | $87.50 | $113.1K | 4.4K | 70 |
| NKE | PUT | TRADE | NEUTRAL | 08/30/24 | $13.8 | $10.25 | $12.03 | $84.00 | $103.4K | 0 | 86 |
| NKE | CALL | SWEEP | BEARISH | 01/17/25 | $4.0 | $4.0 | $4.0 | $80.00 | $96.4K | 5.0K | 241 |
| NKE | PUT | SWEEP | BEARISH | 08/16/24 | $22.75 | $22.5 | $22.68 | $95.00 | $77.1K | 38 | 34 |
| NKE | CALL | SWEEP | BULLISH | 12/20/24 | $5.55 | $5.5 | $5.55 | $75.00 | $74.3K | 3.8K | 189 |
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 (premium athletic footwear and clothing), 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.
After a thorough review of the options trading surrounding Nike, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Nike's Current Market Status
- With a trading volume of 2,660,169, the price of NKE is up by 1.04%, reaching $72.15.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 62 days from now.
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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