Option traders moderately bearish in Nike with shares down 0.13%

Option traders moderately bearish in Nike (NKE), with shares down 8c near $62.72. Options volume relatively light with 11k contracts traded and calls leading puts for a put/call ratio of 0.48, compared to a typical level near 0.55. Implied volatility (IV30) is higher by 0.5 points near 46.98, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.86. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Nike (NKE) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.