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Mike Khouw Sees Unusual Options Activity In Gap

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Mike Khouw spoke on CNBC's Options Action about unusually high options activity in Gap Inc (NYSE: GPS). He said that the weekly options, expiring this Friday, were very active as traders were buying the 18 strike calls.

Over 30,000 contracts of the May 18 calls were bought for $0.70 by midday and 15,000 contracts were traded since than. The traders who bought the May 18 calls for $0.70 are hoping that the stock is going to trade above $18.70 by the end of the week. Since they initiated the trade, the stock moved to $18.40.

Posted-In: CNBC Mike Khouw Options ActionOptions Markets Media

 

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