Nike Stock Up Off the Mat Ahead of Earnings

Nike Inc (NYSE:NKE) stock is up 2.1% to trade at $52.32, enjoying a broader market boost ahead of the retail giant's fiscal third-quarter earnings report, due out after the close later today. Ahead of the event, options traders are betting bullish.

NKE could today snap a four-day losing streak. The shares haven't posted a weekly win since Feb. 20, culminating in a nine-year low of $50.95 yesterday. NKE is down 18% in 2026.

The stock has a history of lackluster post-earnings reactions. NKE has finished lower after six of its last eight corporate reports, including a10.5% bear gap on Dec. 19. The options market is pricing in an 11.3% move -- regardless of direction -- for tomorrow's trading, much larger than the average 8.9% move NKE has averaged in the last two years.

Should Nike stock suffer another dismal report, a shift in analyst attention could weigh. Of the 36 brokerages covering the equity, 20 maintain "buy" or better ratings, while the consensus 12-month price target of $74.96 is a 43.7% premium to its current perch.

Calls remain en vogue despite the stock's struggles. NKE's 10-day call/put volume ratio of 3.03 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 74% of readings from the past year.