Moderately bullish activity in Nike with shares down 0.94%

Moderately bullish activity in Nike (NKE), with shares down 59c near $62.05. Options volume roughly in line with average with 48k contracts traded and calls leading puts for a put/call ratio of 0.56, compared to a typical level near 0.47. Implied volatility (IV30) is higher by 1.4 points near 48.37, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.89. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Overweight at Wells Fargo.