Mike Khouw spoke on CNBC's Options Action about an unusually high options activity in CBS Corporation (NYSE: CBS). He said that 6 times average daily call options volume was traded in the name on Monday.
Khouw explained that the biggest trade of the day was a sale of 60,000 contracts of the December 55 strike calls for $2.10. The trader is assuming that the stock won't trade above $57.10 or approximately 5 percent higher at December expiration. CBS Corporation is reporting earnings on November 5.
Posted-In: Mike Khouw Options ActionCNBC Options Markets Media Trading Ideas
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