On CNBC's "Options Action," Mike Khouw said that Zoom Video Communications Inc (NASDAQ:ZM) saw more than double the average daily call volume on Monday.

The company is scheduled to report earnings on Tuesday and the options market is implying a move of 15% in either direction.

See Also: Zoom Analyst Sees 'Minimal' Near-Term Upside Ahead Of Q1 Report

The most active options were the June 5, $200 strike calls and they were trading for about $12. The trade breaks even at $212 or 3.85% above the closing price on Monday. Khouw explained that the buyers are betting that the stock is going to rally on earnings.