Mike Khouw Sees Unusual Options Activity In Netflix

On CNBC's "Options Action," Mike Khouw said calls traded four times their average daily volume on Thursday in Netflix Inc NFLX and they outpaced puts by about 2 to 1. Overall, bullish bets, call buyers and put sellers, outpaced bearish bets, call sellers and put buyers, by about 30%.

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The most active options were the August 20 expiration, $550 calls as over 31,000 contracts were traded for $2.09. The August 27 expiration, $550 calls were also active as over 6,000 contracts were traded. This week's expiration calls were mostly traded by retail traders, while next week's activity included some institutional traders.