Mike Khouw Sees Unusual Options Activity In Apple

On CNBC's "Options Action," Mike Khouw said calls outpaced puts by about 2 to 1 in Apple Inc AAPL on Monday, but that is not atypical because that is pretty much what he has seen over the last month in the name.

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The most active options on Monday were the September $150, $152.50 and $155 calls. Over 173,000 contracts of the September $150 calls were traded for $1.83. The trade breaks even at $151.83 or around 1.5% above the closing price on Monday. Buyers are risking around 1.2% of the underlying price to bet the stock is going to end the week higher.