Mike Khouw Sees Unusual Options Activity In Citigroup Inc

, Mike Khouw spoke about unusually high options volume in

. Two times daily average volume was traded on Tuesday and that is unusual because the name has a large option volume and it takes a lot to double it. A lot of the activity was institutional call options buying. There was a call spread risk reversal trade that caught Khouw's attention on Tuesday. A trader sold the March 48 put options and used the proceeds to buy the March 55.50 / 57 call spread. The trade needs a 6 percent move in the next two weeks to be profitable at expiration.