Mike Khouw Sees Unusual Options Activity In Apple

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On CNBC's Options Action, Mike Khouw spoke about unusually high bullish options activity in Apple Inc. AAPL. He said that over 400,000 call options were traded in the name, which is two times higher than the average daily call options volume.

The company is going to report earnings on Tuesday and it moves 4.8 percent on average on the event. The options market is currently implying a move of 3.4 percent, which is around $26 billion.

Khouw said the weekly expiration calls were the most active ahead of the earnings report. Over 22,500 contracts of the May 5, 150 strike calls were traded for $1.05. The trade breaks even at $151.05 or 3.05 percent above the closing price on Monday.

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Posted In: CNBCOptionsMarketsMediaMike KhouwOptions Action
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