Nike Options Traders See Stock Moving Lower By Friday Following Q4 Earnings
Portfolio Pulse from Lisa Levin
Nike Inc. (NYSE:NKE) is expected to release its Q4 2023 financial results on June 29, 2023. Options markets are implying a move of around +/-6.38% following the earnings release, which is 2% below its historical average. Traders are buying puts, indicating an expectation of Nike's shares trading lower by the end of the week. Analysts expect Nike to post quarterly earnings at 67 cents per share on revenue of $12.59 billion.
June 29, 2023 | 12:36 pm
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Options traders are expecting Nike's stock to move lower following the Q4 2023 earnings release. The implied move is around +/-6.38%, which is 2% below its historical average.
The expectation of a downward move in Nike's stock price is based on the options market activity, where traders are buying puts. This indicates a bearish sentiment towards the stock. Additionally, the implied move of +/-6.38% following the earnings release is 2% below its historical average, suggesting a potential underperformance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100