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Dan Nathan Sees Unusual Options Activity In Chevron

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Dan Nathan spoke on CNBC's "Options Action" about unusually high options activity in Chevron Corporation (NYSE: CVX). The total options volume was 1.5 times the average daily options volume.

After the announcement that the CEO is planning to step down, there was a large buy of the September 8, 105 strike puts for 90 cents. Around 10,000 contracts were traded and the break even for the trade is at $104.10 or 2.12 percent below the current market price.

Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

 

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