Dan Nathan Sees Unusual Options Activity In Twenty-First Century Fox

Dan Nathan spoke on CNBC's Options Action about bearish options activity in Twenty-First Century Fox Inc FOXA. Options trading volume was 10 times higher than the average volume and the most active were the January 2017, 25 - strike puts. When the stock was trading at $32.50 a trader bought 54,000 of the January 2017, 25 - strike puts for $1.40. The trade breaks even at $23.60 or around 28 percent lower at the January expiration. Nathan believes that this is a long-term protective play against a long stock position.