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 25 uncommon options trades for Nike.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 52%, bearish.
Out of all of the special options we uncovered, 16 are puts, for a total amount of $888,906, and 9 are calls, for a total amount of $375,233.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $95.0 for Nike, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Nike's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Nike's significant trades, within a strike price range of $60.0 to $95.0, over the past month.
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 | BULLISH | 12/20/24 | $2.59 | $2.53 | $2.53 | $75.00 | $126.5K | 16.5K | 526 |
| NKE | PUT | SWEEP | BEARISH | 12/20/24 | $2.53 | $2.46 | $2.51 | $75.00 | $125.2K | 16.5K | 1.0K |
| NKE | CALL | SWEEP | BULLISH | 09/19/25 | $3.35 | $3.25 | $3.35 | $95.00 | $82.7K | 1.8K | 1 |
| NKE | PUT | SWEEP | BEARISH | 01/17/25 | $6.1 | $6.0 | $6.1 | $80.00 | $67.7K | 12.0K | 222 |
| NKE | PUT | SWEEP | BEARISH | 01/17/25 | $6.1 | $6.0 | $6.08 | $80.00 | $67.0K | 12.0K | 111 |
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?
- With a volume of 3,359,657, the price of NKE is up 0.86% at $76.33.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 34 days.
What Analysts Are Saying About Nike
1 market experts have recently issued ratings for this stock, with a consensus target price of $80.0.
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. * Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Nike with a target price of $80.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Nike, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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