Bonawyn Eison Sees Unusual Options Activity In Lululemon

On CNBC's "Options Action," Bonawyn Eison said calls outpaced puts 1.5 times in Lululemon Athletica Inc (NASDAQ: LULU) heading into earnings.

The company is scheduled to report earnings on Thursday, after the bell, and the options market is implying a move of 8% in either direction between now and Friday. The stock moves 5% on average on the event.

The trade that really stuck out to Eison was the sale of 1,000 contracts of the December 11, $400 strike calls for $4.35. The breakeven for the trade is at $404.35 or 11.22% above the closing price on Wednesday.