Financial giants have made a conspicuous bearish move on Nike. Our analysis of options history for Nike NKE revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $157,450, and 6 were calls, valued at $237,267.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $72.5 to $160.0 for Nike during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Nike options trades today is 3500.0 with a total volume of 418.00.
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 $72.5 to $160.0 over the last 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | CALL | SWEEP | BEARISH | 10/18/24 | $5.25 | $5.2 | $5.2 | $82.50 | $75.9K | 6.5K | 150 |
| NKE | PUT | SWEEP | BULLISH | 03/21/25 | $3.7 | $3.65 | $3.65 | $75.00 | $64.9K | 7.1K | 180 |
| NKE | PUT | TRADE | BULLISH | 01/17/25 | $77.4 | $76.15 | $76.6 | $160.00 | $61.2K | 0 | 8 |
| NKE | CALL | TRADE | BEARISH | 01/16/26 | $17.0 | $16.75 | $16.75 | $77.50 | $40.2K | 140 | 0 |
| NKE | CALL | TRADE | BEARISH | 09/06/24 | $3.4 | $3.35 | $3.35 | $81.00 | $33.5K | 660 | 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 (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.
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
- Currently trading with a volume of 759,592, the NKE's price is up by 0.68%, now at $83.98.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 34 days.
What Analysts Are Saying About Nike
3 market experts have recently issued ratings for this stock, with a consensus target price of $81.33333333333333.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $80.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Nike, targeting a price of $71.
- Showing optimism, an analyst from Williams Trading upgrades its rating to Buy with a revised price target of $93.
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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