Nike Options Trading: Analyzing Unusual Activity and Upside Bets

Nike Options Activity Analysis

• 📈 Nike's options saw trading volumes more than double the daily average, with calls outnumbering puts by over 2 to 1.
• 🎯 The implied move for Nike by the end of the week is currently just over 8%, which is slightly less than the eight-quarter average of over 10%.

Key Options Trade Breakdown

• 💡 A notable trade involved a 1x3 call spread, with the purchase of 4,000 October 75 calls.
• 💰 This was combined with selling 12,000 of the 87.5 calls against it, resulting in a net premium outlay of approximately $250,000.
• 🚀 This strategy effectively positions the trader to be long 400,000 shares of stock above $75.
• ⚠️ The trade suggests a bet on a stock rally, but with gains capped above $87.50.