Schlumberger NV SLB is scheduled to report earnings before the bell on Friday.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Schlumberger traded three times its average daily put volume on Thursday. The trade implied a move of about 3.6%, which is in-line with the average 2.9% move in the last eight reported quarters, he stated.

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There were buyers of 22,200 of the October 45 puts at an average price of 44 cents per contract, Khouw mentioned. Traders expect shares of Schlumberger to decline after the earnings report, he added.

SLB Price Action: Shares of Schlumberger had risen by 0.48% to close at $45.69 on Thursday.

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