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

Looking at options history for Nike ( NKE ) we detected 53 trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 47% with bearish.

From the overall spotted trades, 32 are puts, for a total amount of $2,177,610 and 21, calls, for a total amount of $1,079,320.

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 $40.0 to $115.0 for Nike ( NKE ) over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Nike's ( NKE ) 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 ( NKE ) whale trades within a strike price range from $40.0 to $115.0 in the last 30 days.

Nike Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Nike

Nike ( NKE ) 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 ( NKE ), Jordan (premium athletic footwear and clothing), and Converse ( NKE ) (casual footwear). Nike ( NKE ) 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 ( NKE ) was founded in 1964 and is based in Beaverton, Oregon.

After a thorough review of the options trading surrounding Nike ( NKE ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Nike

Trading volume stands at 11,838,075, with NKE's price down by -1.38%, positioned at $71.64.

RSI indicators show the stock to be is currently neutral between overbought and oversold.

Earnings announcement expected in 6 days.

Professional Analyst Ratings for Nike

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $89.0.

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* Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Nike ( NKE ) with a target price of $80.

* An analyst from Jefferies has elevated its stance to Buy, setting a new price target at $115.

* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Nike ( NKE ), targeting a price of $72.

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 ( NKE ) options trades with real-time alerts from Benzinga Pro.