Mike Khouw Highlights Unusual Options Activity In Biogen

On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Biogen Inc BIIB. He noticed on both Tuesday and Wednesday that puts outpaced calls by about 2 to 1.

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The market is implying a move of 7% in either direction this week when the company is going to release the latest clinical trial results. During the session on Wednesday, Khouw noticed a big activity in the December weekly, $275 puts, which traded for $4.26. The trade breaks even at $270.74 or 5.61% below the current stock price.

Editor's note: The company's clinical trial results are expected Thursday morning and had not yet been published at time of writing.