Benzinga | Oct 26, 2021 12:39PM EDT

Nike Whale Trades For October 26

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bullish stance on Nike(NYSE:NKE).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 50.0% bullish and 50.0%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $182,333, and 7 are calls, for a total amount of $308,252.

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 $90.0 to $165.0 for Nike over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Nike options trades today is 3674.67 with a total volume of 738.

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 $90.0 to $165.0 over the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNKE PUT SWEEP BULLISH 06/17/ $155.00 $102.7K 2.2K 151 22NKE CALL TRADE BULLISH 12/17/ $140.00 $76.2K 135 30 21NKE CALL TRADE BEARISH 06/17/ $165.00 $63.6K 2.9K 47 22NKE PUT TRADE NEUTRAL 01/20/ $155.00 $39.8K 936 25 23NKE PUT TRADE BULLISH 01/20/ $155.00 $39.7K 936 50 23

Where Is Nike Standing Right Now?

* With a volume of 1,526,335, the price of NKE is down -0.51% at $163.38.

* RSI indicators hint that the underlying stock may be overbought.

* Next earnings are expected to be released in 52 days.

What The Experts Say On Nike:

* Barclays has decided to maintain their Overweight rating on Nike, which currently sits at a price target of $185.0.

* Goldman Sachs downgraded its action to Buy with a price target of $172.0

* Wedbush downgraded its action to Outperform with a price target of $170.0

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.