Mike Khouw Sees Unusual Options Activity In Procter & Gamble

On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Procter & Gamble Co PG. The call options volume on Thursday was four times its average daily call options volume as almost 37,000 contracts were traded.

The options market is implying a move of about 4.4% by the end of the week, said Khouw. The most active were the weekly April $128 calls that expire next Friday. Traders paid 80 cents for them, which sets the break even for the trade at $128.80 or around 6% above Thursday's close.