Option traders moderately bearish in Nike (NKE), with shares down 85c near $73.84. Options volume relatively light with 45k contracts traded and calls leading puts for a put/call ratio of 0.98, compared to a typical level near 0.8. Implied volatility (IV30) is higher by 1.2 points near 30.38,and below the 52wk median, suggesting an expected daily move of $1.41. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Overweight at JPMorgan.
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