Consumer Discretionary

NIKE Inc (NKE) options and signal

Figures as of 28 Sep 2026

NKE is NIKE Inc, a Consumer Discretionary name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
Trade Card	Bull put spread, 18 Dec	25 Sep
IV rank	99 of 100	28 Sep
At the money IV	48.6%	28 Sep
Priced move to 30 Oct	14.0% down, 15.3% up	28 Sep
Call wall and put wall	40 and 35	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	36.39	28 Sep
Next report	1 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for NKE was a bull put spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Neutral
Strategy	Bull put spread, credit
Legs	Sell the 32.5 put, Buy the 30 put
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $0.77
Probability of profit	72%, the option market's odds at expiry, from delta
Max loss	$173 per contract
Max profit	$77 per contract
Breakeven	31.73
IV rank at that expiry	98 of 100

Probability of profit is the option market's own odds from delta, not the model's.

Priced on the option chain at the close on 25 Sep 2026.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Options Snapshot

NKE's IV rank is 99 of 100 on 28 Sep 2026.

Figure	Value
IV rank	99 of 100
At the money IV	48.6%, near month, 32 days
Put/call ratio, open interest	0.96
Call open interest, strikes captured near the price	581,000 contracts
Put open interest, strikes captured near the price	558,000 contracts
Cost to trade at the money	Tight, 9.9% of the option's mid price

IV rank is where the at the money IV sits among NKE's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, NKE options priced a move of 14.0 percent down and 15.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	9.4%	9.8%	32.96 to 39.94
9 Oct 2026	11	11.0%	11.5%	32.37 to 40.56
23 Oct 2026	25	12.8%	13.6%	31.72 to 41.35
30 Oct 2026	32	14.0%	15.3%	31.30 to 41.97
20 Nov 2026	53	17.3%	18.2%	30.09 to 43.03
18 Dec 2026	81	21.2%	22.1%	28.66 to 44.42
19 Mar 2027	172	28.0%	30.8%	26.19 to 47.59

The range is one standard deviation either side of the close of 36.39, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, NKE's call wall is the 40 strike and its put wall is the 35 strike.

Figure	Value
Call wall, most open call gamma	40
Put wall, most open put gamma	35
Net dollar gamma, calls minus puts	minus $7.59 million
Total dollar gamma, both sides	$66.23 million
Close	36.39

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

Net gamma changes sign at 3 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, NKE's at the money IV is 48.6 percent against 20 day realized volatility of 22.3 percent.

Figure	Value
At the money IV	48.6%
Realized volatility, 20 trading days	22.3%
Realized volatility, 60 trading days	29.1%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	33.3% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, NKE's at the money IV runs from 92.8 percent at 4 days to 43.1 percent at 172 days.

Days to expiry	At the money IV
4	92.8%
11	64.3%
18	55.6%
25	51.0%
39	48.6%
53	46.8%
81	46.1%
172	43.1%

Near expiries price more volatility than far ones, an inverted term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, NKE's IV ten percent below the price sits 1.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	50.0%	+1.4 points
At the money	48.6%	0.0 points
10% above the price	48.6%	+0.1 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, NKE's surface spans 10 expiries out to 172 days, with IV from 41.9 to 68.6 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	66
Lowest IV among them	41.9%
Highest IV among them	68.6%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, NKE has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	92.8%	45,891	35,599
9 Oct 2026	11	64.3%	13,480	12,812
16 Oct 2026	18	55.6%	131,095	144,093
23 Oct 2026	25	51.0%	7,071	6,904
30 Oct 2026	32	48.6%	6,966	2,743
6 Nov 2026	39	48.6%	560	4,703
20 Nov 2026	53	46.8%	58,148	61,751
18 Dec 2026	81	46.1%	93,471	93,982
15 Jan 2027	109	44.9%	146,126	142,660
19 Mar 2027	172	43.1%	78,230	52,806

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, NKE's largest open interest sits at the 40 strike, with 167,760 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
40	91,528	76,232	167,760
35	21,481	122,037	143,518
42.5	60,200	30,511	90,711
45	58,744	31,368	90,112
37.5	33,939	47,865	81,804
50	52,767	24,248	77,015

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, NKE's at the money IV moved from 49.2 percent to 48.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	49.2%	48.6%	-0.6 points
Open interest, strikes captured near the price	1.1 million	1.14 million	+38,704
Put/call ratio, open interest	0.99	0.96	-0.03

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 150,301 NKE option contracts traded, 1.2 times its own recent average.

Figure	Value
Calls traded	97,126
Puts traded	53,175
Against its recent average	1.2 times
Busier than	12 of its last 20 trading days
Open interest, whole chain	1.64 million contracts
Volume to open interest	0.09
Unusual volume flag	Yes, 3 contracts traded well above open interest
Largest flagged contract	The 30.5 put expiring 2 Oct, 814 traded against 169 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of NKE's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	41.32	minus $19.66 million	45	40
21 Sep 2026	36.10	minus $10.53 million	40	35
28 Sep 2026	36.39	minus $7.59 million	40	35

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of NKE was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	36.55, the swing high of 10 Sep 2026
Level below the close	35.35, the swing low of 21 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull put spread (sell a put spread below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 NKE sat at the 82nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	58 of 100	Neutral
20 trading days	71 of 100	Neutral
45 trading days	82 of 100	Bullish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put NKE on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bullish	1 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 NKE had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	82 of 100
24 Sep 2026	None	51 of 100
23 Sep 2026	None	52 of 100
22 Sep 2026	None	48 of 100
21 Sep 2026	None	68 of 100
18 Sep 2026	None	65 of 100
17 Sep 2026	None	88 of 100
16 Sep 2026	None	66 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 27 of 106 Consumer Discretionary names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Discretionary	106	27	33	46

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

NKE closed at 36.39 on 28 Sep 2026.

Figure	Value
Last close	36.39
Change over 5 trading days	+0.8%
Change over 21 trading days	-5.3%
Change over 63 trading days	-12.3%
Change over 252 trading days	-47.4%
52 week high	76.97
52 week low	35.22
20 day moving average	36.94
50 day moving average	39.53
200 day moving average	49.36
RSI, 14 days	41

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

NKE reports next on 1 Oct 2026, and options priced an earnings move of 8.7 percent through 2 Oct 2026.

Figure	Value
Next report	1 Oct 2026, after the close
Date	Confirmed by the company
Priced earnings move	8.7%, a straddle of $3.17 at the 36.5 strike, expiring 2 Oct 2026
Move after the report of 30 Jun 2026	+4.9%
Move after the report of 31 Mar 2026	-15.5%
Move after the report of 18 Dec 2025	-10.5%
Move after the report of 30 Sep 2025	+6.4%

The priced earnings move is the straddle's cost over the share price. It restates option prices and says nothing certain about the report.

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Company Events

NKE filed 1 current report in the 14 days to 28 Sep 2026, the latest on 16 Sep 2026.

Filed	Report	What it covers
16 Sep 2026	Current report	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Regulation FD Disclosure

Filings as of 28 Sep 2026. Current on every plan.

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Public Filings

The filings the desk holds carry 1 recent trade in NKE shares.

Filed	Who	Trade	Size
1 Sep 2026	. Kevin Hern, member of Congress	Sold part	$1,001 to $15,000

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 43.5 percent of NKE's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	43.5%
Five day average	44.8%
52 week median	44.0%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 36 Septembers on record, NKE's average change was plus 3.4 percent, and it rose in 61.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+3.4%	+4.4%	61.1%	36
October	+1.4%	+2.4%	58.3%	36
November	+3.5%	+4.2%	75.0%	36

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 7 headlines naming NKE in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	7
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is NKE's IV rank?: NKE's IV rank is 99 of 100 on 28 Sep 2026.
What move are NKE options pricing?: On 28 Sep 2026, NKE options priced a move of 14.0 percent down and 15.3 percent up by 30 Oct 2026.
Where are NKE's call wall and put wall?: On 28 Sep 2026, NKE's call wall is the 40 strike and its put wall is the 35 strike.
What was the latest Trade Card for NKE on the Free plan?: On 25 Sep 2026 the Trade Card for NKE was a bull put spread expiring 18 Dec 2026, paper trading.
When does NKE report earnings next?: NKE reports next on 1 Oct 2026, and options priced an earnings move of 8.7 percent through 2 Oct 2026.

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