Option traders moderately bearish in Nike with shares down 1.92%

Core Viewpoint - Option traders are moderately bearish on Nike (NKE), with shares currently down $1.07 to approximately $54.63, indicating a cautious sentiment in the market [1] Options Activity - Options volume is roughly in line with the average, with 55,000 contracts traded, and calls leading puts, resulting in a put/call ratio of 0.52, which is lower than the typical level of around 0.71 [1] - Implied volatility (IV30) has increased by 0.8 points to approximately 50.3, placing it in the highest 10% of observations over the past year, suggesting an expected daily price movement of $1.73 [1] - The put-call skew has steepened, indicating a heightened demand for downside protection, particularly following an upgrade to Overweight by Barclays [1] Earnings Outlook - Nike (NKE) is scheduled to report earnings after the market close, with option markets pricing in a 50% probability of a price movement greater than 0.0% or $0.00 [1]