Here's The Expected Move For CrowdStrike Holdings Post Earnings Release

CrowdStrike Holdings Inc CRWD Wednesday reports earnings after the bell. Shares of the company plummeted more than 6% on Tuesday.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that the stock is trading more than 1.6 times its average daily volumes. The market is implying a move of 12.5% by the end of the week, which is “considerably more than the 8.3% or so that it’s averaged over the last eight quarters,” he added.

There was a buyer of 500 of the March 11 weekly 167.5/180 calls for an average price of $3.35 per contract, Khouw mentioned. However, there was also “a fairly good-sized purchase of 800 of the 150/130 put spreads as the stock weakened towards the close,” he added.

CrowdStrike shares were trading 4.10% higher in pre-market on Wednesday at 163.20.

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