Dan Nathan Sees Unusual Options Activity In QUALCOMM

Dan Nathan said on the show that the call options outnumbered put options 2 to 1 in

on Thursday. He added that this has happened when the semiconductor stocks were trading in the negative territory. When

traded at $66.88 a trader bought 5,000 contracts of the April 10, 70 strike call options for $0.22. The strike is around 5 percent out of the money and the option in expiring in two weeks. Nathan explained that traders should be very careful with a trade like this one, because the options market is saying that there is only 10 percent chance that the option is going to expire in the money.