Mike Khouw Sees Unusual Options Activity In Anadarko Petroleum Corporation

On CNBC's Options Action, Mike Khouw spoke about bearish options activity in Anadarko Petroleum Corporation APC. He said that put options trading volume was 5 times larger than the average daily put options volume and he noticed one particularly big trade in the name. A trader bought 6,000 contracts of the January 2018, 25-strike puts for $4.20. The total paid premium amounts to $2.5 million and the stock has to drop 47 percent for the trade to break even.