Mike Khouw Sees Unusual Options Activity In Signet Jewelers Ltd. - Signet Jewelers (NYSE:SIG)

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Mike Khouw spoke on CNBC's Option Action

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about unusually high bullish options activity in Signet Jewelers Ltd. (NYSE: SIG). Call options trading volume was 15 times higher than the average daily call volume on a day when the stock jumped 9.35 percent. Khouw noticed a big trade on Monday in

Signet Jewelers Ltd.. A trader bought the March 115/120, 1 by 2 call spread. He thinks that the trade is a stock recovery play, by one of the larger hedge funds that has a position in the stock. Khouw explained that the strategy reaches maximal profit at $120 and a trader with a long stock position increases his selling price to $125.