Playcall: 31 Sprint/ 39 Sprint
Backfield action: Speed option is run from a one-back set. There is no dive fake or lead back. The QB opens to play side and attacks immediately.
The speed option is numbered 31/39 because NU's first one-back formation in the 1970s was the Spread formation with the I-back moved to a slot and the fullback remaining in the backfield alone. Thus a one-back option was numbered with a three, the fullback's number. In the late eighties and early ninties Osborne developed many new one-back formations with an I-back, yet this option retained the old fullback number.
Blocking: Arc option is blocked using Outside Zone principals. Speed and Veer option are also blocked this way up front. This use of one line blocking scheme for several plays is one factor that allows Nebraska to have so much in its offensive playbook.
Formations: Nebraska runs this play out of any one-back set (except Double Wing which is really more of a three-back set). The speed option is really an arc option with no lead back. The extra reciever in the formation takes on the fullbacks blocking responsibility.
Companion Plays: The primary companion of the Speed Option is the play-action pass. The QB and IB start down the line of scrimmage, but after a few steps the QB drops back behind the tackle to pass. The I-back can step up to pass protect or continue his option pitch path to be available for a outlet swing pass.