A Closer Look at Nike's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
Investors have shown a bullish stance in Nike's (NYSE:NKE) options market, with a significant portion of transactions indicating a positive outlook. Benzinga's options scanner revealed 8 notable transactions, with a bullish sentiment in 62% of them. The options activity suggests a target price range for Nike between $80.0 and $105.0. Recent analyst ratings have varied, with Wedbush lowering its rating to Outperform and setting a price target of $115, while B of A Securities upgraded Nike to Buy with a target of $113. Nike's current stock price is down by -1.75%, with a neutral RSI and its next earnings report due in 57 days.
May 01, 2024 | 2:45 pm
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POSITIVE IMPACT
Bullish options trading and mixed analyst ratings suggest a positive yet cautious outlook for Nike. With a price target range of $80-$105 and recent upgrades and downgrades, investors should watch for volatility.
The bullish sentiment in the options market, combined with recent analyst upgrades and downgrades, indicates a positive outlook but with caution due to market volatility and the upcoming earnings report. The significant options activity and the target price range suggest investor confidence in Nike's performance, potentially leading to short-term price increases.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100