Spotlight on Nike: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
The article highlights a surge in options activity for Nike (NYSE:NKE), with a noticeable bearish stance from major investors. Out of 16 trades, 56% were bearish, with significant put options totaling $2,019,392. The price band for Nike is expected to be between $82.5 and $125.0. Current trading volume is 4,065,495, with the stock price at $95.5. Analysts have mixed ratings, with an average target price of $111.8.
June 20, 2024 | 5:02 pm
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Nike has seen a surge in options activity with a bearish tilt. 56% of the trades are bearish, focusing on a price band of $82.5-$125.0. Current trading volume is 4,065,495, with the stock price at $95.5. Analysts have mixed ratings, with an average target price of $111.8.
The significant bearish options activity suggests that major investors expect a decline in Nike's stock price. The mixed analyst ratings and the current RSI indicating potential overbought conditions further support a cautious outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100