Mike Khouw Sees Unusual Options Activity In Netflix

On CNBC's Options Action, Mike Khouw spoke about unusually high options activity in Netflix, Inc. NFLX. He explained that options trading volume was two times higher than the average daily options volume and there were more bearish than bullish bets during the session.

One trade caught Khouw's attention because of its size. A trader bought 1,000 contracts of the February 135 puts for $8.40. The trader thinks that Netflix is going to trade below $126.60 at the February expiration.