Mike Khouw Sees Unusual Options Activity In Oracle

On CNBC's "Options Action", Mike Khouw spoke about unusually high options activity in Oracle Corporation ORCL. He said the put options volume was two times the average daily put options volume and he noticed a big purchase of the September 46/43 put spread.

Around 3,000 contracts of the September 46/43 put spread for 30 cents were purchased on Tuesday. The trade breaks even at $45.70 or 5.93 percent lower and it can make a maximal profit of $2.70.