On CNBC’s “Options Action,” Mike Khouw said he saw more than 2.5 times the average daily put volume on Monday in Oracle Corporation (NYSE:ORCL).
The company is going to report earnings on Tuesday after the market closes and the options market is implying a move of around 5% in either direction by the end of the week. That is in line with how much the stock moved over the last eight quarters.
Around 5,000 contracts of the June $78.50 were traded for 56 cents on Monday. The trade breaks even at $77.94 or around 5.7% below the closing price on Monday.
