Deep-pocketed investors have adopted a bearish approach towards Nike (NYSE: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 16 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 43% bearish. Among these notable options, 3 are puts, totaling $187,556, and 13 are calls, amounting to $647,860.
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 $67.5 and $100.0 for Nike, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $67.5 to $100.0 in the last 30 days.
Nike Option Activity Analysis: 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 | SWEEP | BEARISH | 12/20/24 | $2.02 | $1.83 | $2.0 | $78.00 | $101.0K | 1.0K | 551 |
| NKE | CALL | SWEEP | BULLISH | 01/17/25 | $7.5 | $7.35 | $7.5 | $75.00 | $75.0K | 9.0K | 301 |
| NKE | CALL | SWEEP | BULLISH | 01/17/25 | $7.2 | $7.0 | $7.16 | $75.00 | $71.9K | 9.0K | 200 |
| NKE | CALL | TRADE | NEUTRAL | 12/20/24 | $3.35 | $3.25 | $3.3 | $81.00 | $71.2K | 1.0K | 308 |
| NKE | CALL | SWEEP | BULLISH | 01/17/25 | $7.9 | $7.6 | $7.87 | $75.00 | $55.2K | 9.0K | 405 |
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
Nike's Current Market Status
- Trading volume stands at 7,335,567, with NKE's price up by 1.73%, positioned at $79.94.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 13 days.
Professional Analyst Ratings for Nike
In the last month, 5 experts released ratings on this stock with an average target price of $81.0.
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. * Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for Nike, targeting a price of $80. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Nike, targeting a price of $95. * Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Nike with a target price of $73. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $84. * An analyst from TD Cowen has decided to maintain their Hold rating on Nike, which currently sits at a price target of $73.
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.
