Mike Khouw Sees Unusually High Options Activity In Moderna

On CNBC's "Options Action," Mike Khouw said Moderna Inc MRNA saw more than 3 times the average daily options volume on Friday, and calls significantly outpaced puts.

The most active options were the $90-strike calls, $100-strike calls and $105-strike calls that expire on November 20. This activity suggests traders are expecting a strong vaccine-related catalyst next week and they are using options because they want to manage risk, explained Khouw.

Tony Zhang made a comparison with Pfizer Inc. PFE, which had a big move higher on the news and then it traded lower. He expects to see a similar reaction with Moderna. He wouldn't chase it because its options are very expensive.

Carter Worth likes Moderna a lot. He expects it to trade above its highs.