Dan Nathan Sees Unusual Options Activity In Apple

On CNBC's Options Action, Dan Nathan spoke about unusually high options activity in Apple Inc. AAPL.

He said that the call options volume on Monday was two times higher than the put options volume and the most active options were the January 13 expiry, 120 strike calls and the January 20 expiry, 120 calls. Each expiry had 40,000 traded contracts.

Nathan explained that these trades are probably momentum trades and he added that traders are hoping for a short term break out above $120.