Nike Stock Plummets on Dismal Forecast, Bear Notes

Core Insights - Nike Inc reported a fiscal third-quarter earnings and revenue beat but expects a significant sales decline in the fiscal fourth quarter due to restructuring, weak consumer confidence, and tariffs [1] - The stock experienced a 7.7% drop, trading at $66.30, marking its fourth consecutive daily loss and the worst single-day percentage drop since June [2] Financial Performance - Nike's shares have a year-over-year deficit of 34.2$65.18 [2] - At least 10 firms, including J.P. Morgan Securities, have reduced their price targets for Nike, with J.P. Morgan lowering it from $73 to$64 [1] Market Activity - Options trading volume for Nike has surged, with 108,000 calls and 98,000 puts exchanged, which is five times the typical volume [3] - The most popular options contract is the March 65 put, with new positions being opened at the 66 put [3] Sentiment Analysis - The 10-day put/call volume ratio for Nike stands in the 95th percentile of its annual range, indicating a bearish sentiment among short-term options traders [4]