Dan Nathan Sees Unusual Options Activity In Exxon Mobil

Dan Nathan spoke on CNBC's Options Action about an unusually high options trading volume in Exxon Mobil Corporation XOM.

He said that the call options volume was 1.5 times higher than the put options volume and he noticed one particularly big trade when the stock was trading at $86.50 on Monday. A trader bought 2,000 contracts of the December 88 calls for $1.37. The trade breaks even at $89.37 or 3.3 percent higher from the underlying stock price.

Nathan added that Exxon Mobil is down 9 percent from its 52-week highs and Energy Select Sector SPDR (ETF) XLE is trading at its 52-week highs.