Mike Khouw Sees Unusual Options Activity In Tesla

On CNBC's "Options Action", Mike Khouw spoke about high options activity in Tesla Inc TSLA. The options trading volume in the name was two times its average daily options volume, which made it the busiest single stock option.

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The most of that activity was concentrated in the August 10 expiry, 380 strike calls. Over 11,000 contracts were purchased for $5.50. The breakeven for the trade is at $385.50 or approximately 4 percent above the current market price.