Mike Khouw Sees Unusual Call Options Activity In Virgin Galactic

On CNBC's "Options Action," Mike Khouw said Virgin Galactic Holdings SPCE traded more than six times the average daily call options volume on Thursday. Most of that activity was concentrated in options that expire on Friday.

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The January $33 calls were extremely active as they traded more than 10 times the open interest. Buyers were paying around a dollar for these calls and they are betting the rally is going to continue on Friday. They're risking just over 1% of the current stock price.