Mike Khouw Sees Unusual Options Activity In Macy's

On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Macy's, Inc. M. He said Macy's is usually trading a decent amount of options volume, averaging 60,000 contracts a day. More than double of that volume was recorded on Monday and most of it was on the call side, said Khouw.

The most active options were the April $23 strike calls. Around 13,500 contracts were traded for about 80 cents. The trade breaks even at $23.80 or around 15% above the closing price on Monday.