On CNBC's "Options Action", Mike Khouw spoke about unusually high call options activity in Alphabet Inc GOOG on Wednesday.
Khouw said he noticed a purchase of around 800 contracts of the October 980 calls for $5. The trade breaks even at $985 or 6.16 percent above the closing price on Wednesday. The trade is going to be profitable, if the stock revisits its 52-week high by the October expiration.
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