Mixed options sentiment in Nike with shares down 14.7%

Mixed options sentiment in Nike (NKE), with shares down $7.76 near $45.05. Options volume extremely heavy with 518k contracts traded and calls leading puts for a put/call ratio of 0.68, compared to a typical level near 0.83. Implied volatility (IV30) dropped 14.46 near 36.1,and below the 52wk median, suggesting an expected daily move of $1.02. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at BofA.The company announced earnings after the close on 2026-03-31with option markets having priced in a move of approximately 9.92%.