On CNBC's "Options Action," Mike Khouw said Oracle Corporation (NYSE:ORCL) traded about 4.6 times its average daily put volume on Thursday. The options market is implying a move of around 5%, in either direction, by the end of the next week, after the company reports earnings on Wednesday.
The most active options were the June $85 puts. Over 6,100 contracts were traded during the session, including 4,700 contracts that were traded for $3.15. The trade breaks even at $81.85 or around 0.5% below the closing price on Thursday.