Mike Khouw Sees Unusual Options Activity In Fubotv

On CNBC's "Options Action," Mike Khouw said Fubotv Inc FUBO traded more than three times its average daily options volume and more than four times its average daily put options volume on Wednesday.

During the session, Khouw noticed a lot of activity in the January $40 calls. Nearly 10,000 contracts were traded for $3.67 on average. Khouw thinks these people are either hedging their shorts or speculating on a potential short-squeeze.