A whale with a lot of money to spend has taken a noticeably bearish stance on Nike.
Looking at options history for Nike (NYSE:NKE) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $368,725 and 2, calls, for a total amount of $77,610.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $165.0 for Nike over the last 3 months.
Volume & Open Interest Development
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 $100.0 to $165.0 in the last 30 days.
Nike Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | PUT | TRADE | BULLISH | 01/20/23 | $105.00 | $148.5K | 4.7K | 154 |
| NKE | CALL | SWEEP | NEUTRAL | 09/16/22 | $120.00 | $50.1K | 909 | 14 |
| NKE | PUT | TRADE | BEARISH | 06/17/22 | $104.00 | $47.0K | 202 | 1.0K |
| NKE | PUT | TRADE | BEARISH | 01/19/24 | $100.00 | $30.8K | 1.5K | 105 |
| NKE | PUT | TRADE | BEARISH | 01/19/24 | $100.00 | $29.6K | 1.5K | 129 |
Where Is Nike Standing Right Now?
- With a volume of 2,252,549, the price of NKE is up 0.49% at $110.98.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
What The Experts Say On Nike:
- Wells Fargo has decided to maintain their Overweight rating on Nike, which currently sits at a price target of $150.
- Guggenheim has decided to maintain their Buy rating on Nike, which currently sits at a price target of $160.
- KGI Securities downgraded its action to Neutral with a price target of $106
- Stifel has decided to maintain their Buy rating on Nike, which currently sits at a price target of $150.
- HSBC has decided to maintain their Hold rating on Nike, which currently sits at a price target of $132.
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.
