Dan Nathan Sees Unusally High Options Activity In Nike Inc

Speaking on CNBC's Options Action, Dan Nathan analyzed options trading action in Nike Inc NKE on Thursday. Options trading volume was two times higher than the average daily options volume and put options outnumbered call options. Nathan noticed a large trade when the stock was around $95.50. A trader bought the April 10, 94.50/91 put ratio spread in the name for $0.15. The trade makes most money at $91, which is approximately 6.5 percent lower from Thursday's close. The options market is implying a 4 percent one day move after results next week and Nathan thinks that the trader is probably targeting that event. Implied volatility is slightly elevated and traders are looking to sell more options, explained Nathan.