Mike Khouw Sees Unusual Options Activity In Uber

On CNBC's "Options Action," Mike Khouw spoke about Uber Technologies Inc UBER, which is due to report earnings on Thursday.

Khouw said the options market is implying a move of 10% and that is roughly in line with its last move on earnings. Puts outnumbered calls 2 to 1 and the most active weekly options were the May 8, $25 strike puts. Around 5,000 contracts were traded for 65 cents. The trade breaks even at $24.35 or 12.47% below the closing price on Wednesday.

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