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 22 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 59% bearish. Among these notable options, 8 are puts, totaling $307,073, and 14 are calls, amounting to $778,513.
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 $50.0 to $150.0 for Nike over the last 3 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 $50.0 to $150.0 in the last 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | BULLISH | 10/18/24 | $2.73 | $2.69 | $2.73 | $80.00 | $125.5K | 10.6K | 529 |
| NKE | CALL | SWEEP | BEARISH | 01/15/27 | $8.7 | $8.35 | $8.35 | $105.00 | $119.4K | 223 | 143 |
| NKE | PUT | TRADE | BULLISH | 12/20/24 | $4.85 | $4.8 | $4.8 | $85.00 | $97.4K | 6.7K | 205 |
| NKE | CALL | SWEEP | BEARISH | 12/20/24 | $4.55 | $4.5 | $4.5 | $82.50 | $94.5K | 4.2K | 307 |
| NKE | CALL | SWEEP | BEARISH | 01/16/26 | $16.4 | $16.25 | $16.27 | $75.00 | $55.2K | 2.3K | 35 |
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
Present Market Standing of Nike
- With a trading volume of 2,371,052, the price of NKE is down by -0.55%, reaching $82.94.
- 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.
What The Experts Say On Nike
In the last month, 5 experts released ratings on this stock with an average target price of $92.0.
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. * An analyst from Truist Securities persists with their Hold rating on Nike, maintaining a target price of $83. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Nike with a target price of $100. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Nike, which currently sits at a price target of $95. * An analyst from B of A Securities downgraded its action to Buy with a price target of $104. * Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Nike with a target price of $78.
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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