Bonawyn Eison Sees Unusual Options Activity In Anavex Life Sciences

On CNBC's "Options Action," Bonawyn Eison spoke about unusually high options volume in Anavex Life Sciences Corp AVXL, as around 45,000 contracts were traded during the session on Thursday. This was almost 20 times the average daily options volume. Puts and calls were evenly distributed.

Implied volatility in the name was pretty high on Thursday and the options market was implying a move of 45% in either direction until the February expiry. Eison noticed a purchase of 10,000 contracts of the February $20 calls for $4.80. The trade breaks even at $24.80 or more than 95% above the closing price on Thursday.