Mike Khouw Sees Unusual Options Activity In Intel

On CNBC's "Options Action," Mike Khouw said he saw calls outpacing puts by about 2 to 1 in Intel Corporation INTC on Wednesday. The volume was above average as the earnings results have attracted the attention of options traders.

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The options market is implying a move of 5% in either direction by the end of the week and the stock usually moves 5.5% on average for the event.

Khouw saw the most opening activity in the July 24, $61 calls. Around 2,600 contracts were traded and traders paid around $1.5 for them. The trade breaks even at $62.50 or 2.38% higher from the closing price on Wednesday.