Mike Khouw Sees Unusual Options Activity In Exxon Mobil

Mike Khouw spoke on CNBC's "Options Action" about unusually high options activity in Exxon Mobil Corporation XOM. He said the stock saw two times the average daily options volume and the options market is implying a move of 2.5% on earnings.

The most active options were the December $72.50 calls as 2,000 contracts were traded for 27 cents. The trade breaks even at $72.77 or around 7.5% above the closing price on Wednesday.