Options Market Activity - Nike's implied move is slightly less than the eight-quarter average of more than 10% [1] - Today's trading volume is more than double its average daily options volumes [1] - Call options outpaced put options by more than 2 to 1 [1] Specific Trade Analysis - A 1x3 call spread involved buying 4,000 October 75 calls and selling 12,000 of the 875% calls [2] - The net premium outlay for the call spread was approximately $250,000 [2] - The trade represents a bet that the stock could rally, but not higher than 875% [2] - The trader will be long 400,000 shares of stock above 75 if the stock reaches that price [2]