Traders Bet on Nike (NKE) Into Q3 as Competitive Pressure Mounts (UA) (DKS)

March 21, 2013 2:49 PM EDT
Nike, Inc. (NYSE: NKE) is lower into its fiscal third-quarter 2013 report, which is expected after markets close Thursday.

The Street currently expects Nike to report EPS of 67 cents and revs of $6.23 billion, versus EPS of $1.20 and revs of $5.8 billion reported in the same period last year.

Notably, investors and traders will be keeping an eye on future orders. Last quarter, Nike reported a six percent gain in futures orders to $9.3 billion (seven percent gain ex. FX).

Nike will face a little more challenge this year as German rival adidas plans to sell one million pair of its Energy Boost shoe.

Some are also cheering for underdog Under Armour (NYSE: UA) to gain market share following quarterly results from retailers like Foot Locker (NYSE: FL) and Dick's Sporting Goods (NYSE: DKS).

Implied volatility on the stock is at 28.5 percent with VWAP of 53.89 above today's current trading price. Call volume contracts of 17,141 accounts for 60 percent of the total.

Net money flow is positive by about $5.1 million Thursday afternoon, with an uptick-to-downtick ratio of 1.14 times.

Short interest is thin at 6.32 million shares, or 0.89 percent of float, as of February 28, 2013. That's a 9.2 percent share increase from February 15th.

Overall, Nike is down about 1.9 percent.

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