Nike's Options: A Look at What the Big Money is Thinking

NIKE, Inc. Class B +1.14%

NIKE, Inc. Class B

NKE

92.82

+1.14%

Whales with a lot of money to spend have taken a noticeably bearish stance on Nike.

Looking at options history for Nike (NYSE:NKE) we detected 17 trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $522,382 and 8, calls, for a total amount of $439,574.

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 $87.5 to $115.0 for Nike over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Nike options trades today is 4050.79 with a total volume of 13,190.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Nike's big money trades within a strike price range of $87.5 to $115.0 over the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NKE PUT SWEEP BEARISH 03/15/24 $105.00 $125.2K 1.7K 411
NKE PUT SWEEP BEARISH 01/19/24 $110.00 $120.0K 5.8K 435
NKE CALL SWEEP BULLISH 12/15/23 $105.00 $95.8K 5.3K 393
NKE CALL TRADE BULLISH 06/21/24 $105.00 $85.7K 2.5K 65
NKE PUT TRADE NEUTRAL 03/15/24 $95.00 $65.0K 2.5K 508

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, 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.

Current Position of Nike

  • Currently trading with a volume of 6,270,124, the NKE's price is up by 1.98%, now at $110.9.
  • RSI readings suggest the stock is currently may be overbought.
  • Anticipated earnings release is in 22 days.

What The Experts Say On Nike

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $116.0.

  • An analyst from Evercore ISI Group has revised its rating downward to Outperform, adjusting the price target to $124.
  • An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $108.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Nike options trades with real-time alerts from Benzinga Pro.

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