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Benzinga
Benzinga
Business
Priya Nigam

Oil Is Near $111, But Mike Khouw Says This Energy Stock Has Downside

Oil Michael Khouw crude oil

WTI (West Texas Intermediate) crude oil traded above $111 per barrel on Tuesday, adding around 7% over the past three sessions.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Duke Energy Corp (NYSE:DUK) traded 6 times its average daily call volume on Tuesday.

Check out other tech stocks making moves in the premarket.

There was a seller of 3,000 of the July 110 calls at 45 cents per contract on average, Khouw mentioned. The trader “is obviously betting that Duke’s not going to go through that 110 strike price, which is a little bit more than 4% higher than the current stock price,” he added.

DUK Price Action: Shares of Duke Energy rose 0.48% to settle at $105.70 on Tuesday.

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