What the Options Market Tells Us About Nike

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 8 extraordinary options activities for Nike. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 37% bearish. Among these notable options, 4 are puts, totaling $235,945, and 4 are calls, amounting to $1,550,560.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $90.0 for Nike, spanning the last three months.

Analyzing Volume & Open Interest

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 $40.0 to $90.0, over the past month.

Nike 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Nike's Current Market Status

• With a trading volume of 3,712,422, the price of NKE is down by -1.49%, reaching $60.98.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 9 days from now.

What The Experts Say On Nike

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $65.33.

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 $65. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Nike with a target price of $61. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Nike, targeting a price of $70.

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.