Mike Khouw Sees Unusual Options Activity In Anadarko Petroleum Corporation

, Mike Khouw spoke about bearish options activity in

. He said that put options trading volume was 5 times larger than the average daily put options volume and he noticed one particularly big trade in the name. A trader bought 6,000 contracts of the January 2018, 25-strike puts for $4.20. The total paid premium amounts to $2.5 million and the stock has to drop 47 percent for the trade to break even.