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Mike Khouw Sees Unusual Options Activity In FireEye

On CNBC's "Options Action," Mike Khouw said that cybersecurity stocks are on fire and FireEye Inc (NASDAQ: FEYE) particularly.

Benzinga · 05/08/2020 12:06

On CNBC's "Options Action," Mike Khouw said that cybersecurity stocks are on fire and FireEye Inc (NASDAQ: FEYE) particularly.

He noticed that 50 times more calls than puts were traded in the name on Thursday and the call volume was 5 times the average daily call volume.

Most of that activity was concentrated in the May $11 and $11.50 strike calls, which expire next Friday. Buyers of these calls are betting that the stock is going to trade above $12 by the end of the next week, said Khouw.