Options Trader Sees CBOE Volatility Index Surging This Much By April Expiration

Chicago Board Options Exchange's CBOE Volatility Index VIX rose sharply on Thursday after U.S. stocks recorded sharp losses during the session.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said there were 5.5x more calls than puts on VIX Volatility Index.

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There was a buyer of 31,000 of the April 29/39-call spreads at an average price of 62 cents per contract, Khouw mentioned.

The trader expects CBOE Volatility Index stock doubling by April expiration.

Price Action: The CBOE Volatility Index surged 10.6% to 20.17 on Thursday.

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