Dan Nathan Sees Unusual Options Activity In General Motors

On CNBC's Options Action, Dan Nathan spoke about options trading volume in General Motors Company GM. He said that call options volume was two times higher than the put options volume, but the trading action was not bullish because there was a closing seller of calls in General Motors.

Nathan added that somebody sold to close 25,000 contracts of the January 40 calls for $0.21. He explained that the trader probably decided to close the position, because there is a low probability that these calls would expire in the money. Nathan also said that he is not a buyer of stocks in the auto manufacturing sector.