Mike Khouw Sees Unusual Options Activity In General Motors

Mike Khouw spoke on CNBC's Options Action about options trading volume in General Motors Company GM. Puts were very active on Tuesday and their volume was two times higher than the average daily put options volume.

Traders were buying weekly March 34.5 puts. Around 5,000 contracts were traded for $0.25, which sets the breakeven for the trade at $34.25 or 0.87 percent lower from the closing price on Tuesday.

Khouw also noticed a lot of activity in the January 2018, 32-strike and 30-strike puts.