Nike Options Traders See Stock Moving Lower By Friday Following Q4 Earnings

Nike Inc. (NYSE: NKE) is expected to release financial results for the fourth-quarter of 2023 after the closing bell on Thursday, June 29, 2023.

Kevin Kelly of Kelly Intelligence said on CNBC’s "Options Action" that options markets are implying a move of around +/-6.38% following the release of earnings. That's around 2% below its historical average.

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There were buyers of 3,347 of the June 30 weekly 100-puts at an average price of 31 cents per contract, Kelly explained.

Traders expect Nike’s shares trading lower by the end of the week.

Analysts expect Nike to post quarterly earnings at 67 cents per share on revenue of $12.59 billion.

Price Action: Nike shares fell 0.5% to close at $113.03 on Wednesday.

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