Bullish earnings play for nike, as over 7000 $100 Oct 4 calls were bought on Sep 27 for .40 cents each over 1500 volume in the Oct 4 $95 and 97 calls too The implied move for ER is $6 / or 7-8% There is a gap fill to $93 from the june earnings gap down. For a hedge, you could buy the $80 put