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On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Global Clean Energy ETF (NASDAQ:ICLN) traded more than 9.5 times its average daily call volume on Monday. The options market saw a lot of institutional activity, he added.

Check out other stocks making moves in the premarket.

There were buyers of 21,937 of the September weekly 24-calls at an average price of 72 cents per contract, Khouw mentioned. Traders expect shares of iShares Global Clean Energy to rise by 10% in the next five and a half weeks, he added.

ICLN Price Action: Shares of iShares Global Clean Energy gained 0.45% to settle at $22.51 on Monday.

Also Read: These 3 Renewable Energy Stocks Offer Generous Dividend Yields: Passive Income For ESG Investors

More Upside Likely For iShares Global Clean ETF In Next Five Weeks

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