Moderately bullish activity in Nike (NKE), with shares up 18c, or 0.28%, near $62.66. Options volume relatively light with 31k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.48. Implied volatility (IV30) is higher by 1.9 points near 46.76,in the top quartile of the past year, suggesting an expected daily move of $1.85. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Overweight at Wells Fargo.
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