On CNBC's Options Action, Mike Khouw spoke about bearish options activity in Express Scripts Holding Company ESRX. He said that the put options volume was three times higher than the average daily put options volume and 50 percent more puts than calls were traded on Thursday.
Khouw noticed that one institutional buyer bought 1,500 contracts of the February 70 puts for $1.15. The breakeven for the trade is at $68.75 or approximately 11 percent lower from the closing price on Thursday.
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