Option traders moderately bearish in Nike with shares down 1.49%

Option traders moderately bearish in Nike (NKE), with shares down 94c near $61.90.Options volume relatively light with 47k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 0.47. Implied volatility (IV30) is higher by 0.8 points near 44.77,in the top quartile of the past year, suggesting an expected daily move of $1.75. Put-call skew steepened, indicating increased demand for downside protection.