Mike Khouw Sees Unusual Options Activity In QQQ

On CNBC's "Options Action," Mike Khouw said he saw above-average options volume in Invesco QQQ Trust Series 1 QQQ on Wednesday. The options market is implying a 10% move higher or lower for QQQ by the end of the year.

Khouw saw a lot of activity in the December $290 calls. Over 25,000 contracts were traded for about $10. Buyers are betting the stock is going to get above $300 within the next six weeks.