On CNBC's "Options Action," Mike Khouw said Box Inc (NYSE:BOX) traded about four times as many calls as puts on 150% of its average daily call volume on Tuesday.

The most active options were the June $24 calls. Around 4,500 contracts were traded for approximately 82 cents. Buyers of these calls are betting the stock is going to trade above $24.82 or 3.55% above the closing price on Tuesday.