Option traders moderately bearish in Nike (NKE), with shares down 6c near $64.98. Options volume relatively light with 43k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.86. Implied volatility (IV30) is higher by 1.3 points near 32.04,and below the 52wk median, suggesting an expected daily move of $1.31. Put-call skew steepened, indicating increased demand for downside protection.
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Read More on NKE:
- Nike (NKE) Cuts 775 Jobs as Part of Automation Push
- Nike to cut 775 employees, primarily at U.S. distribution centers, CNBC reports
- Nike looking into potential data breach, Reuters reports
- Target appoints John Hoke III, Steve Bratspies to board of directors
- Nike price target lowered to $75 from $90 at KeyBanc