Investors with a lot of money to spend have taken a bearish 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 8 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $330,474, and 5 are calls, for a total amount of $349,385.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $90.0 for Nike over the last 3 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 $70.0 to $90.0 over the preceding 30 days.
Nike Option Volume And Open Interest Over 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 | TRADE | NEUTRAL | 09/19/25 | $4.6 | $4.45 | $4.53 | $70.00 | $271.8K | 1.1K | 600 |
| NKE | CALL | TRADE | BEARISH | 11/01/24 | $1.42 | $1.33 | $1.36 | $90.00 | $122.4K | 5 | 903 |
| NKE | CALL | TRADE | BEARISH | 10/25/24 | $4.75 | $4.7 | $4.7 | $80.00 | $94.0K | 283 | 200 |
| NKE | CALL | TRADE | NEUTRAL | 10/04/24 | $3.3 | $3.2 | $3.25 | $82.00 | $48.7K | 496 | 167 |
| NKE | CALL | SWEEP | BEARISH | 11/15/24 | $4.15 | $4.1 | $4.1 | $82.50 | $42.6K | 5.3K | 112 |
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.
Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.
Where Is Nike Standing Right Now?
- Currently trading with a volume of 2,887,055, the NKE's price is up by 0.53%, now at $81.07.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 13 days.
Professional Analyst Ratings for Nike
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $81.0.
- An analyst from Barclays has decided to maintain their Equal-Weight rating on Nike, which currently sits at a price target of $84.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $80.
- An analyst from Stifel persists with their Hold rating on Nike, maintaining a target price of $79.
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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