Dan Nathan Sees Unusally High Options Activity In Electronic Arts Inc.

Dan Nathan spoke on CNBC's Options Action, about unusually high bullish options activity in Electronic Arts Inc. EA on a day when the stock dropped 4.75 percent. The options volume was 3 times higher than the average daily options volume and when the stock traded down 5.5 percent, a trader sold 15,000 contracts of the December 60 puts for $0.60 per contract. The total premium is $900,000 and if the stock stays above $60 the trader is going to collect the premium. The trade breaks even at $59.40. Nathan explained that this is a bullish bet between now and the December expiration.