Strategy looks for sharp move in Nike
Chris McKhann | email@example.com
NKE is up fractionally at $99, a day after posting its lowest close since mid-January. The selloff in shares of the athletic-apparel giant, which had climbed above $114 in early May, has accelerated in the last two weeks.
A trader bought 3,000 June 95 puts for $1.21, optionMONSTER's Depth Charge shows. Open interest at the strike was just 107 at the start of the day, so this is a new position.
Less than two minutes after the options changed hands, the largest stock print traded with 84,000 shares bought for $98.9214. The stock position combined with the option would create a delta-neutral position that could profit with NKE sharply higher or lower. (See our Education section)