Mike Khouw Sees Unusually High Bearish Options Activity In General Motors Company

, Mike Khouw said that put options trading volume in

was 2 times higher than the average daily put options volume. The largest trade of the day was a purchase of 14,000 contracts of the May 30/28 put spread for $0.37. The trade breaks even at $29.63 or 5.34 percent lower from the Wednesday's closing price and it can maximally make $1.63. The pay off for the trade is 4 to 1. Khouw added that he has also noticed bearish options activity in

and in some of the parts suppliers.