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Dan Nathan Sees Unusual Options Activity In Square

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On CNBC's "Options Action," Dan Nathan spoke about unusually high options activity in Square Inc (NYSE: SQ). The company is going to report earnings on Thursday and the options market is implying a move of 7% in either direction, which is in line with the average move over the last four quarters.

See Also: Thursday's Market Minute: Watch For These Earnings

Nathan said call options volume ran pretty hot on Wednesday as calls outnumbered puts 2 to 1. Nathan added that a lot of the volume was in the short-dated calls. The most active call option was the Aug. 82.50 call. Around 2,500 contracts were traded and investors were paying $2.40 for them. The trade breaks even at $84.90.

Square traded around $82.74 per share at time of publication.

 

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Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

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