Deep-pocketed investors have adopted a bullish 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 35 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 57% leaning bullish and 34% bearish. Among these notable options, 20 are puts, totaling $1,045,808, and 15 are calls, amounting to $819,701.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $125.0 for Nike over the recent three months.
Analyzing Volume & Open Interest
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 $60.0 to $125.0 over the preceding 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 | BULLISH | 03/21/25 | $13.55 | $13.4 | $13.55 | $80.00 | $135.5K | 3.3K | 202 |
| NKE | CALL | SWEEP | BEARISH | 12/20/24 | $11.2 | $11.1 | $11.1 | $80.00 | $121.0K | 3.0K | 5 |
| NKE | CALL | TRADE | BULLISH | 12/20/24 | $15.25 | $15.15 | $15.25 | $75.00 | $106.7K | 4.8K | 72 |
| NKE | PUT | SWEEP | BULLISH | 01/17/25 | $3.3 | $3.25 | $3.25 | $82.50 | $102.7K | 5.5K | 1.0K |
| NKE | PUT | SWEEP | BULLISH | 10/18/24 | $5.3 | $5.2 | $5.2 | $92.00 | $101.9K | 2.1K | 200 |
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.
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.
Current Position of Nike
- Trading volume stands at 8,685,908, with NKE's price down by -1.39%, positioned at $88.19.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 1 days.
Professional Analyst Ratings for Nike
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $95.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on Nike with a target price of $109. * An analyst from Evercore ISI Group persists with their Outperform rating on Nike, maintaining a target price of $110. * An analyst from JP Morgan persists with their Neutral rating on Nike, maintaining a target price of $80. * An analyst from Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $80. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Nike with a target price of $100.
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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