Bonawyn Eison Sees Unusual Options Activity In Peloton

On CNBC's "Options Action," Bonawyn Eison spoke about unusually high options activity in Peloton Interactive Inc PTON. He said calls outnumbered puts by about 3 to 1 on Thursday, which is twice the monthly average call to put ratio.

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Eison noticed during the session that around 6,500 contracts were traded in the August 28, $70 calls. Buyers paid $1.35 for them, which sets the breakeven for the trade at $71.35 or 1.5% above the closing price on Thursday.