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Trades See Even More Upside To Nike Shares

Published 16/04/2022, 23:16
© Reuters.  Trades See Even More Upside To Nike Shares
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Shares of Nike Inc (NYSE: NYSE:NKE) Thursday spiked almost 5% after JPMorgan (NYSE:JPM) analysts said in a note to clients that the footwear and apparel leader expects China sales to grow.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that Nike’s stock traded more than twice the average daily volumes.

Calls outpaced puts by almost 3:1, he added. Check out other retail stocks making big moves in the premarket.

There was an institutional buyer of more than 3,000 of the September 135 calls at an average price of $7.90 per contract, Khouw mentioned. The buyer of these contracts is betting that the stock rises by at least 7.5% over the next few months.

Also Read: Why Nike Is Off To The Races After Breaking Up From This Pattern And What To Watch For Next

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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