Mike Khouw Sees Unusual Options Activity In Tesla

Mike Khouw spoke on CNBC's "Options Action" about a high options activity in Tesla Inc TSLA. He said that put options volume was well above average on Wednesday. Puts outnumbered calls 1.5 to 1 by 3 p.m. and they traded even more into the close.

The April 250 puts were the most active. Over 8,500 contracts were traded for $1.25. The trade breaks even at $248.75 or 23.84 percent below the current market price.