Mike Khouw Sees Unusual Options Activity In JPMorgan Chase

Mike Khouw said on CNBC's "Options Action" that he noticed above average options activity in JPMorgan Chase & Co. JPM on Thursday.

The company is going to report earnings next week and it normally moves 2.7 percent in either direction. The options market is implying approximately the same move.

Khouw added that he saw one particularly big trade during the trading session on Thursday. A trader bought 5,700 contracts of the July 94 call for $1.30. The trade breaks even at $95.30 or 2.06 percent above the closing price on Thursday.