What the Options Market Tells Us About Nike
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Nike (NKE) based on options market activity, with a significant portion of trades indicating expectations of price movements between $85.0 and $105.0. The options market activity includes both puts and calls, with a higher volume of bearish bets. Nike's current trading volume and price have seen a slight increase, and the stock is potentially oversold according to RSI indicators. Analysts have mixed views on Nike, with price targets ranging from $85 to $130.
March 27, 2024 | 2:31 pm
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Bearish options market activity suggests potential downward pressure on Nike's stock price in the short term, despite a slight recent increase and mixed analyst ratings.
The bearish sentiment in the options market, indicated by a higher volume of puts and the expectation of price movements between $85 and $105, suggests that investors are preparing for a potential decrease in Nike's stock price. This sentiment, combined with the current trading volume and price increase, as well as the mixed analyst ratings, points towards a cautious outlook for Nike in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100