Bonawyn Eison Sees Unusual Options Activity In Apple

On CNBC's "Options Action," Bonawyn Eison said calls outpaced puts by about 3-to-1 in Apple Inc AAPL, and the options market is implying a move of 2% in either direction by the end of the year.

Eison noticed a large trade in the December $137 calls. They were sold at $1.30, putting the breakeven for the trade at $138.30 or around 2.5% above the spot. He has also noticed a purchase of downside puts and most of the upside calls were purchased to close the position.