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Mike Khouw Sees Unusual Activity In Texas Instruments

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On CNBC's "Options Action," Mike Khouw said that Texas Instruments Incorporated (NASDAQ: TXN) traded more than four times the average daily call volume on Tuesday. That was a result of a large trade in the September expiration calls.

See Also: Option Traders Make Big Bullish Bets On AMD, Texas Instruments

An options trader bought over 8,700 contracts of the September $120 calls, paying around $9 per contract for them. The trade breaks even at $129 or 5.16% above the closing price on Tuesday. Khouw explained that this is a big bullish bet as the trade would turn into around $105 million worth of stock.

 

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