Mike Khouw Sees Unusual Options Activity In CBS Corporation

Mike Khouw spoke on CNBC's Options Action about an unusually high options activity in CBS Corporation CBS. He said that 6 times average daily call options volume was traded in the name on Monday. Khouw explained that the biggest trade of the day was a sale of 60,000 contracts of the December 55 strike calls for $2.10. The traders is assuming that the stock won't trade above $57.10 or approximately 5 percent higher at December expiration. CBS Corporation is reporting earnings on November 5.