Mike Khouw Sees Unusual Options Activity In Twenty-First Century Fox
Mike Khouw spoke on CNBC's Options Action about increased options activity in Twenty-First Century Fox Inc (NASDAQ: FOXA). He said that the call options volume was four times higher than the average call options volume and there was an institutional buyer of the May 31 calls.
Around 7,000 contracts of the May 31 calls were bought for $0.75. The trade breaks even at $31.74 or around 4.5 percent above the current stock price. Khouw added that it looks like the trader is expecting a rebound in the name after a poor performance in April.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.