Mike Khouw Sees Unusual Options Activity In Weatherford International Plc

20-Year Pro Trader Reveals His "MoneyLine"

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Mike Khouw spoke on CNBC's Options Action about bearish options activity in Weatherford International Plc (NYSE: WFT). The stock saw more than 8 times average daily put volume on Monday and the most active were the August 7 puts, said Khouw. A trader bought 11,000 contracts of the August 7 puts for $0.55, betting that Weatherford International Plc is going to trade at $6.45 or 36 percent lower at August expiration. Khouw added that the company carries a lot of debt and that it is currently trading close to its 2008-2009 lows.

20-Year Pro Trader Reveals His "MoneyLine"

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