Dan Nathan Sees Unusual Options Activity In Eli Lilly

Dan Nathan spoke on CNBC's "Options Action" about unusually high options activity in Eli Lilly And Co LLY.

He said the call volume in the name was two times that of puts and he noticed one trade that stood out from the others. When the stock was trading at $98.65, there was a purchase of 10,000 contracts of the September 100 calls for $1.79. The trade breaks even at $101.79 or 3.02 percent above the stock's closing price on Tuesday.