Nike put volume heavy and directionally bearish

Bearish flow noted in Nike with 7,370 puts trading, or 1.2x expected. Most active are 12/23 weekly 87 puts and Nov-22 112 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 2.56, while ATM IV is up over 1 point on the day. Earnings are expected on December 20th.