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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 18 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 10 are puts, totaling $667,985, and 8 are calls, amounting to $482,689.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $105.0 for Nike over the last 3 months.
In terms of liquidity and interest, the mean open interest for Nike options trades today is 2181.55 with a total volume of 4,446.00.
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 $85.0 to $105.0 over the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|
NKE | PUT | TRADE | BULLISH | 07/19/24 | $85.00 | $245.0K | 2.6K | 1.2K |
NKE | CALL | SWEEP | BULLISH | 03/28/24 | $85.00 | $223.3K | 283 | 281 |
NKE | PUT | SWEEP | BULLISH | 07/19/24 | $105.00 | $91.4K | 1.2K | 0 |
NKE | PUT | SWEEP | BEARISH | 06/20/25 | $95.00 | $66.9K | 6.0K | 72 |
NKE | CALL | TRADE | BEARISH | 07/19/24 | $100.00 | $52.6K | 1.3K | 43 |
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.
5 market experts have recently issued ratings for this stock, with a consensus target price of $114.0.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with Benzinga Pro for real-time alerts.
Posted In: NKE