Dan Nathan Sees Unusual Options Activity In Lowe's

On CNBC's "Options Action", Dan Nathan spoke about an unusual options activity in Lowe's Companies, Inc. LOW. The company is scheduled to report earnings Wednesday and the options market implies a move of 4.5 percent in either direction. Its average move over the last four quarters is around 3.5 percent.

Nathan added that total options volume was two times the average daily options volume and the four most active strikes were all short-dated puts. He thinks that we won't see the stock trading at $95 any time soon.

Note: Lowe's missed Q1 estimates, but was trading up about 0.8 percent in the pre-market session.