Nike (NKE) volatility elevated into less than expected Q3 results

Nike (NYSE: NKE) is recently down 7.7% in pre-open trading after reporting lower than expected Q3 results. Goldman Sachs downgraded NKE to Neutral from Conviction Buy. Overall option implied volatility of 30 is above its six-month average of 24 according to Track Data, suggesting larger near term price movement.

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