Option traders moderately bearish in Nike (NKE), with shares down $1.12 near $70.05. Options volume running well above average with 49k contracts traded and calls leading puts for a put/call ratio of 0.14, compared to a typical level near 0.64. Implied volatility (IV30) is higher by 0.6 points near 31.84,and below the 52wk median, suggesting an expected daily move of $1.40. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Overweight at KeyBanc.
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