On CNBC's "Options Action," Bonawyn Eison spoke about high options activity in Eastman Kodak Company (NYSE:KODK). He said that the average options volume over the last month was around 7,000 contracts. The volume increased significantly over the last two days as around 100,000 contracts were traded on Tuesday and over 300,000 contracts were traded on Wednesday.
Eison noticed that 100,000 contracts of the August $2.5 puts were traded for 10 cents on Wednesday. He explained that the buyer is betting that things are not going to end well for Kodak.