Nike (NKE) Volatility Higher into Pre-Olympics Quarterly Results

Nike (NYSE: NKE) volatility elevated into the company's fourth-quarter 2012 earnings release, expected out after the market closes.

According to market data, implied volatility has been above its trailing annual average since early May and has also been trending higher over the last few sessions. Implied is about 10 points above the annual average.

Nike ended Wednesday's session down 0.4 percent, but is looking stronger in early trading Thursday. This will be the final report ahead of the Summer Olympics in London, scheduled to start in July.

Investors will be focusing on future orders to get a good determination of what to expect over the next several months. Last quarter, future orders rose 15 percent (or 18 percent ex-currency), which beat Street views.

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