Benzinga | Dec 20, 2021 11:55AM EST

Check Out What Whales Are Doing With NKE

A whale with a lot of money to spend has taken a noticeably bullish stance on Nike.

Looking at options history for Nike (NYSE:NKE) we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 27% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $584,377 and 4, calls, for a total amount of $228,500.

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 $150.0 to $220.0 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 $150.0 to $220.0 in 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 01/21/ $160.00 $358.1K 4.7K 465 22NKE CALL SWEEP BULLISH 01/21/ $165.00 $113.5K 3.7K 325 22NKE CALL TRADE BULLISH 01/20/ $220.00 $50.0K 1.9K 100 23NKE PUT SWEEP BEARISH 12/23/ $165.00 $47.0K 1.5K 101 21NKE PUT TRADE BEARISH 12/23/ $160.00 $45.7K 2.2K 84 21

Where Is Nike Standing Right Now?

* With a volume of 2,656,625, the price of NKE is down -3.07% at $156.41.

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

* Next earnings are expected to be released in 0 days.

What The Experts Say On Nike:

* Morgan Stanley has decided to maintain their Overweight rating on Nike, which currently sits at a price target of $206.

* Telsey Advisory Group has decided to maintain their Outperform rating on Nike, which currently sits at a price target of $190.

* Truist Securities downgraded its action to Buy with a price target of $190

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.