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Mike Khouw Sees Unusual Options Activity In Macy's

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On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Macy's Inc (NYSE: M). He said that calls outnumbered puts three to one on Thursday and he noticed one big options trade in the name.

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Khouw noticed a purchase of 1,000 contracts of the Sept. $16 calls for 15 cents. The trade breaks even at $16.15 or 3.8% above the current stock price. Khouw explained that this trader is playing for a short-term bounce, committing a small amount of capital.

 

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Posted-In: CNBC Mike Khouw Options ActionOptions Markets Media