Dan Nathan Sees Unusual Options Activity In Exxon Mobil

On CNBC's Options Action, Dan Nathan spoke about a bullish options activity in Exxon Mobil Corporation XOM. He said there was increased activity in the December expiration call options on Wednesday and the call options volume was 3.5 times higher than the average daily call options volume.

Nathan noticed one particularly big trade. A trader bought 10,000 contracts of the December 90 calls for $0.49. The trade breaks even at $90.49 or approximately 5 percent higher from the closing price on Wednesday.

Pete Najarian said he decided to buy calls in Exxon Mobil, because the options volume was unusually strong. He added that the trade could become very profitable if crude oil rebounds.