A surge in out-of-the-money call option activity on Nike late Monday has ignited speculation of a looming US–Vietnam tariff agreement that could benefit apparel and footwear importers. The move came just minutes before market close, with 9,549 contracts traded on the Nike call—well above average for a strike 16% out-of-the-money and expiring in just 11 days.
The sudden spike in volume coincided with social media chatter highlighting unusual strength across retail and clothing stocks.
While Nike shares closed modestly higher at $55.94 (+0.32%), options sentiment told a different story. The net call premium rose sharply to $80.98K, while net put premium plunged to -$712.59K—suggesting traders were rotating aggressively into bullish positioning.
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Data also showed an ask wall of 11,944 contracts just before close, indicating demand-side urgency. The abruptness and size of the move hint not at retail enthusiasm, but at calculated, high-conviction bets possibly informed by non-public expectations around trade developments.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
