Mike Khouw Sees Unusual Options Activity In Target

On CNBC's "Options Action", Mike Khouw spoke about unusually high options activity in Target Corporation TGT ahead of earnings. The put options volume was two times the average daily put options volume.

The most active were the August 53.50 puts. Over 4,500 contracts were traded at an average price of 45 cents. The trade breaks even at $53.05 or 4.91 percent below the current stock price. Khouw added that the implied move for the stock, ahead of earnings, is 4.4 percent.