Mike Khouw Sees Unusual Options Activity In Apple

On CNBC's "Options Action", Mike Khouw said that he saw above-average options activity across the market and Apple Inc. AAPL was one of the names with above-average put volume.

One trade caught his attention: somebody bought 2,829 contracts of the September 160 puts for $5.30 in Apple. Throughout the day, they reached a volume of 5,000 contracts. The trade breaks even at $154.70 or around 14 percent from the closing price on Thursday.

Khouw said the trade is unusual because bets aren't often made on such a big move in Apple.