Dan Nathan Sees Unusual Options Activity In Square

On CNBC's "Options Action", Dan Nathan spoke about unusually high options activity in Square Inc SQ. Put options outnumbered call options 1.5 to 1 and Nathan noticed a large put options purchase, when the stock was trading at $54.70.

A trader bought 1,500 contracts of the June 52.50 put for $2.00. The breakeven for the trade is at $50 or 9.24 percent below the current stock price.