Mike Khouw Sees Unusual Options Activity In Caesars Entertainment

Mike Khouw spoke on CNBC's Options Action about unusually high call options activity in Caesars Entertainment Corp CZR. He said that the call options volume was seven times higher than the average daily call options volume and a lot of that volume was very near dated. Over 7,000 contracts of the April 10.50 calls that expire next Friday were traded at $0.50. The break-even for the trade is at $11 or 4.5 percent higher from the current price. The premium paid is around 5 percent of the current price, Khouw added.