Mike Khouw Sees Unusual Options Activity In Campbell Soup

On CNBC's "Options Action", Mike Khouw spoke about unusually high options activity in Campbell Soup Company CPB. The options trading volume in the name was double the average daily volume and the implied move for the earnings, scheduled for Aug. 30, is 8 percent in either direction.

Despite the proximity of the earnings report, one trader was buying the January expiration calls on Tuesday. Somebody paid a $1.25 per contract for 5,000 contracts of the January 45 calls. The trade breaks even at $46.25 or around 16 percent above the current market price.