Option traders moderately bearish in Nike with shares down 2.43%

Option traders moderately bearish in Nike (NKE), with shares down $1.67 near $66.80. Options volume relatively light with 68k contracts traded and calls leading puts for a put/call ratio of 0.87, compared to a typical level near 0.64. Implied volatility (IV30) is higher by 3.0 points near 36.15,and above the 52wk median, suggesting an expected daily move of $1.52. Put-call skew steepened, indicating increased demand for downside protection.