On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Akamai Technologies, Inc. /zigman2/quotes/203072268/composite AKAM -1.24% .
The call options volume on Thursday was five times the average daily call options volume and some of that activity was concentrated in the August $115 calls. Around 800 contracts were bought for an average price of $5.50. The trade breaks even at $120.50 or 6.5% above the closing price on Thursday.
There was also a large activity in the January 2020, $115 strike calls, said Khouw. Traders were selling those and buying the stock, betting that the volatility is going to come in.
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