Mike Khouw Sees Unusual Options Activity In Signet Jewelers Ltd.

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Mike Khouw spoke on
CNBC's Option Action
about unusually high bullish options activity in
Signet Jewelers Ltd.SIG
. Call options trading volume was 15 times higher than the average daily call volume on a day when the stock jumped 9.35 percent. Khouw noticed a big trade on Monday in
Signet Jewelers Ltd.
. A trader bought the March 115/120, 1 by 2 call spread. He thinks that the trade is a stock recovery play, by one of the larger hedge funds that has a position in the stock. Khouw explained that the strategy reaches maximal profit at $120 and a trader with a long stock position increases his selling price to $125.
Date of Trade
ticker
Put/Call
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Posted In: CNBCOptionsMarketsMediaMike KhouwOptions Action
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