Moderately bullish activity in Nike with shares up 2.9%

Moderately bullish activity in Nike (NKE), with shares up $2.10, or 2.9%, near $74.58. Options volume relatively light with 98k contracts traded and calls leading puts for a put/call ratio of 0.37, compared to a typical level near 0.95. Implied volatility (IV30) is higher by 1.3 points near 27.96,and below the 52wk median, suggesting an expected daily move of $1.31. Put-call skew steepened, indicating increased demand for downside protection.