Mike Khouw Sees Unusual Options Activity In Celgene

Speaking on

, Mike Khouw said that

had above average call options volume on a day when single stocks had below average options activity. He noticed that someone bought 2,600 contracts of the March 124 call options for $0.50 and 2,500 contracts of the March 125 calls, which expire a week later, for $0.70. Khouw explained that the company is presenting on Barclay's Healthcare conference on Wednesday and the event might be a catalyst for bullish traders. The breakeven for trades Khouw noticed is at $124.50, or 5 percent higher, and at $125.70, or 6 percent higher, at March expiration.