On CNBC's "Options Action," Dan Nathan spoke about unusually high options activity in salesforce.com, inc. CRM ahead of the earnings report, scheduled for Tuesday. The options volume in the name was two times the average daily options volume and the options market is implying a 4% move in either direction. The stock moved 4.6% on average over the four quarters.
See Also: Salesforce's Q3 Earnings Outlook
When the stock was trading around $160, shortly after noon on Monday, there was a buyer of 5,000 contracts of the December $150 puts. The trader paid $1.25 for the trade, which sets the breakeven at $148.85 or 7.29% below the current stock price.
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