Mike Khouw Sees Unusual Options Activity In Wynn Resorts

On CNBC's Options Action, Mike Khouw said that the call options volume in Wynn Resorts, Limited WYNN was two times bigger than the average daily call options volume. The most active were the week ending 97 calls and traders were paying $1.25 for them.

Over 7,000 contracts were traded and the breakeven for the trade is at $98.25 or around 8 percent higher from the closing price on Tuesday. There is going to be an investor meeting on Wednesday and Khouw is hoping t's going to provide a positive note on disappointing results posted on Tuesday afternoon.