CNBC Options Action's Dan Nathan spoke on the show about a big options trade that he noticed in Twitter Inc TWTR on Monday. Put options volume was two times higher than the average daily volume and the largest trade of the day was a purchase of 10,000 contracts of the October 19 puts for $0.37.
The trade breaks even at $18.63 or around 20 percent lower from the closing price on Monday. Nathan believes that Twitter's board can't sell the company below its IPO price of $26. He added that the takeover is going to happen over the next couple of months at he thinks that the price is going to be at least $26.
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